In an interview with Bloomberg TV on Monday, Dallas Federal Reserve Bank President Robert Kaplan said that he expects zero rates will be appropriate for the next two-and-a-half to three years.
"By 2023, the US could start to approach 3.5% unemployment."
"Once the US gets to the point of lower unemployment, not sure Fed needs to still leave rates at zero."
"Not sure how much benefit the Fed's new rate vow would deliver, concerned about excess risk taking."
"Believed costs of new low rate vow was not worth the benefits."
"Forecast of strong growth for this year assumes some further fiscal support."
"Market cap to GDP is at historic highs, and normally some kind of correction can be helpful."
"Monetary policy is not primary driver of economic outlook now; that's the virus."
"Fed is looking at ways to make Main Street Lending Program more attractive."
The US Dollar Index largely ignored these remarks and was last seen gaining 0.3% on the day at 93.29.
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