Speaking on panel Q&A in Dallas

Robert Kaplan is a non voting member on the FOMC this year.

  • Expects 1.75% US GDP growth in 2016 enough to take out further slack from labor market
  • Jobless rate will slowly go down
  • Does not see evidence of US economy overheating
  • Fed will be patient; does not want to raise rates precipitously
  • Economy's problems are structural
  • Rates are this low because of market forces
  • Sees oil supply/demand balanced in first half of 2017
  • Banking sector returns are disappointing
  • Brexit impact on the US will be marginal unless other countries look to leave the EU
  • Would love once rates are higher, to let the balance of the MBS run off
  • Trade in the US is good as a whole, but the US has to do better training people who have lost their job because of trade