Kaplan on CNBC
- We're in the teeth of this pandemic, we should be aggressive
- I'm going to avoid talking about tapering
- I expected improvement in economic mobility from June onwards
- There is a substantial amount of liquidity and we're seeing that in play (in regards to meme stocks)
- It will be healthy to minimize this liquidity down the road but I'm going to avoid talking about that until down the road
- I think it's wise for us to acknowledge that the Fed buying $120B a month is part of that
- It wouldn't surprise me to see some inflation spikes this year but believes it will mostly be transitory
- The longer-term question is how inflationary forces will be develop against technology and globalization
- If we go through the year and we're successful in combating the virus, the 10-year is going to go up. That would be healthy
As far as I know, this is the first time anyone at the Fed has conceded fueling some of the madness in stocks and elsewhere.
