Kaplan cites unemployment
- Tax cuts give him a lot more conviction that the Fed needs to hike three times this year
- Fed needs to move gradually and deliberately this year
- Overshooting on employment makes him feel 'much more strongly' on hikes
That's a notable shift. He's been more on the dovish end of the spectrum lately.
Update: He made the shift earlier today speaking to the WSJ.
"I feel strongly and I have a lot of conviction that the base case should be three moves for this year, and if I'm wrong, it could even potentially be more than that," he said.
