Fed’s Kaplan says he is getting more confident about economy: WSJ
Written by Fox News on April 18, 2019
FILE PHOTO – Dallas Federal Reserve Bank President, Robert Kaplan, stands on a stage at Stanford University’s Hoover Institution where he is attending an annual monetary policy conference in Stanford, California, U.S., May 4, 2018. REUTERS/Ann Saphir
April 18, 2019
(Reuters) – A top Federal Reserve policymaker on Thursday said he is “getting more confident” in U.S. economic growth this year but still thinks current interest rates are appropriate.
“I’m getting more confident about solid growth this year,” Dallas Fed President Robert Kaplan said in an interview with the Wall Street Journal. He described the U.S. central bank’s current benchmark overnight lending rate of 2.25 percent to 2.50 percent as “appropriate” and “mildly accommodative.”
Several banks and analysts revised their forecasts for first-quarter U.S. growth higher on Thursday after data showed retail sales surging in March and the number of Americans filing applications for unemployment benefits falling to the lowest level in nearly 50 years last week.
(Reporting by Trevor Hunnicutt in New York; Editing by Paul Simao)
Source: OANN
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