Fed’s Kaplan: Consumer is strong, job market is historically tight

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Dallas Fed President Robert Kaplan said that they forecast the economy to grow by about 2% in 2020 and expect the business investment to remain sluggish.

“The consumer is strong, the job market is historically tight and the unemployment rate could tick down a little bit,” Kaplan noted and added that the technology disruption could continue to mute inflation.

As of writing, the US Dollar Index, which tracks the USD’s performance against a basket of six major currencies, was down 0.22% on the day at 97.18.

“The gross domestic product (GDP) growth is critically fueled by workforce growth and workforce growth is declining,” Kaplan said.

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