Off The Wire
Fed's Kaplan says rates are in 'neighborhood' of neutral now
DALLAS (Reuters) - Dallas Fed President Robert Kaplan said on Thursday that U.S. interest rates are currently “in the neighborhood” of a neutral level, and the Fed should not be using monetary policy to stimulate the economy, or to slow it, at this point.
Kaplan, who has said he wants a monthslong pause on interest-rate hikes to allow time to assess the economic outlook amid headwinds, made the comments at a University of Texas at Austin McCombs School of Business conference held at the Dallas Fed’s headquarters.
Reporting by Ann Saphir; Editing by Chizu Nomiyama