EX-FED’S KAPLAN: FOMC TO LOWER RATES SOON, TO AVOID THE RISK OF RECESSION
Former Dallas Federal Reserve (Fed) President Robert Kaplan said on Tuesday that he expects the central bank to start cutting interest rates soon to avoid the risk of sending the US economy into recession.
Key quotes
“One of the reasons we got into this inflationary problem is the Fed stayed way too accommodative for too long, even as the economy was improving, and I don’t think it wants to make the same mistake on the flip side, where it stays too restrictive."
“As the economy and inflation softened, it doesn’t want to make the opposite mistake either
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