Economics
Fed’s Kaplan Estimates First U.S. Rate Increase Will Be in 2022
- Median estimate in Fed dot plot is for no rate hike until 2023
- Kaplan wants proof of jobs, inflation before removing measures
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Dallas Federal Reserve President Robert Kaplan said he is among policy makers estimating that the central bank will have to raise interest rates next year.
“There were some dots starting increases in 2022. And, you know, I’m one of those dots. Yes, absolutely,” Kaplan said in an interview on CNBC television Tuesday, referring to the Fed’s dot plot, which it uses to signal its outlook for the path of interest rates.