Fed's Kaplan "Open-minded" on one more rate increase this year in December
|Dallas Fed President Robert Kaplan was out on the wires in the last hours, with key quotes, via Reuters, found below:
- Oil industry in "fragile equilibrium" of around $50 a barrel
- U.S. facing "net negative" growth in workforce as retirements exceed population growth, needs immigration policy to expand labor supply
- Bounceback in economic growth from Harvey will be equal to or greater than any near-term slowdown
- Slow growth magnifying burden of u.s. unfunded liabilities, growing entitlement costs
- Possible shortage of construction workers in Houston may lead to "healthy" discussion of immigration policy
- "Open-minded" on one more rate increase this year in December, though has not made a decision
- "Structural" headwinds, including technology, may be holding inflation down
- Not particularly in favor of tax cut funded by more debt, but would see tax reform as helpful
- China remains a danger spot for global economy given rising debt levels
- Neutral rate may be as low as 2.25 pct, leaving fed "not as accommodative as people think"
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