Central Banks


Fed’s Kaplan speaking in Galveston Texas

Kaplan is speaking at a Galveston Economic Development partnership summit in Galveston Texas

  • GDP will be around 3% in 2018
  • growth will be a  little slower in 2019 2020
  • lots of businesses trying to pass along price increases
  • Fed to see and feel its way as balance sheet unwinds
  • An inverted yield curve would concern him
  • Fed should be gradually moving to neutral policy
  • Say’s he in the lower half of the Feds 2.5%-3.5% neutral range
  • consumer is in good shape
  • unemployment probably going lower but the rate of decline to slow
  • my business is trying to pass along price increases
  • Sees 2-3 rate hikes until the Fed is at neutral.
  • sees wage pressures building but doesn’t see runaway inflation

The Fed is currently targeting 2.0% to 2.25%
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