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Fed's Kaplan: unlikely that govt debt path is ‘sustainable’

Federal Reserve Kaplan was hitting the wires (note, he will not be a voting FOMC memeber next year): 

  • Says unlikely that govt debt path is ‘sustainable’
  • Describes low stock-mkt volatility as `extraordinarily unusual'
  • Rate hikes should be gradual & patient
  • Inflation target not met yet, expected overshoot on employment target is growing
  • Risk falling behind curve by waiting too long to see evidence inflation
  • Rate hikes in near future likely appropriate - rtrs
  • He's mindful of Fed getting behind the curve
  • Says he backs rate hike in near future
  • Wants to avoid a situation where the Fed plays catch up

 

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