Fed's Robert Kaplan speaks in Houston
- Accommodative policy likely to be appropriate for some time
- Accommodation does not necessarily mean zero FFR
- Return to normal interest rates will probably be gradual
- Keeping rates at zero for too long can cause distortion that's painful to unwind
- US making more progress towards full employment
- Labour market slack needs to be viewed in global context
- Sees GDP at 2-2.5% through 2016
- Sees Inflation at 1.8% by end of 2016, 2.0% by end of 2017
- Slower China growth trims US growth
A little bit of everything in there. Agrees with the current policies, doesn't want rates to low for too long
Not much to put him in either camp really
