Comments from Kaplan in Texas
- Expects more slack to be taken out of jobs market
- Sees inflation rising toward 2%
- Unemployment rate can go lower than 4.5%
No surprises here.
Update:
- Decline in 10-year yield suggests market belief that GDP growth will be tepid
- Expect could start trimming balance sheet as soon as later this year, Fed should allow balance sheet decline to be phased in