Fed's Kaplan: Future removal of accommodation should be done patiently, gradually
|In a published essay on Thursday, Dallas Federal Reserve Bank President Robert Kaplan said that future removal of accommodation should be done patiently, gradually.
Key quotes (via Reuters):
- Would like to see greater evidence that inflation is moving toward fed's 2-pct goal
- Will be appropriate to begin trimming balance sheet later this year
- U.S. GDP growing slightly above 2 pct in 2017, removing remaining slack from labor market
- Recent weak inflation may be transitory, but is patient, open-minded on outlook
- Per-barrel oil price in $40s to low $50s range for rest of 2017
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