Fed’s Kaplan: Too soon to judge what the Fed will do at the March meeting
|Additional headlines are crossing the wires from the Dallas Fed President Robert Kaplan, as he says that its too soon to judge what the Fed will do at the March meeting.
Further comments
A week is an eternity in this situation.
Will be watching the path of diagnosed cases, will factor that into march meeting decision.
This is not the time to be making long term prognostications.
Has ramped up conversations with business contacts to understand how companies, consumers might react.
What companies are doing now is trying to understand the 'demand' aspect of coronavirus effect.
In January thought US GDP could grow 2.25% or more this year.
Severe deterioration is likely, could last a quarter or a quarter and a half.
Economic forecasts to be released in March will look different than they did in December.
The situation is moving so quickly that what happens three days from now could change view.
If we do have a material slowing and tightening of financial conditions, accommodative policy will help.
The ups and downs of stock market did not factor into decision to cut rates.
He expects to see market volatility over coming months.
He won't read much into jobs data that comes out February.
I think you'll see different actions from different central banks around the world.
When you have limited ammunition, it’s wise to use it sooner, more boldly.
You are going to see an impact on global growth in first quarter, will have negative growth in global demand for oil.
Hopeful the coronavirus impact will turn out to be a transitory event.
Political considerations had no impact on fed's decision to cut rates on Tuesday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.