Kaplan speaks to reporters:
- Will make judgement at October meeting
- In July and Sept was more convinced Fed needed to act and cut rates, is more 'balanced' now
- Base case is one more cut between now and year end
- Given Fed and bond moves this year it may be wise "to take a little time" in examining data before deciding on next move
- We're at the point in the business cycle where large banks should have more capital, would be 'loath' to ease up
I'm eager to hear from Clarida in 45 minutes because I think there could be some fireworks.
