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Robert Kaplan, president of the  Federal Reserve Bank  of Dallas, on Thursday said that downside risks would decrease if trade tensions were to moderate.

Regarding the monetary policy outlook, Kaplan noted that he will take some time to carefully monitor the developments after the Federal Reserve’s two rate cuts and added that he has an open mind on further easing.

The US Dollar Index hasn’t yet reacted to these comments and was last down 0.37% on the day at 98.74. Below are some additional quotes, per Reuters.

“Concerned slowing global growth, manufacturing weakness could spread to broader economy of the United States (US).”

“Would prefer not to make the mistake of waiting to see consumer spending weaken before taking action.”

“Will carefully monitor the US yield curve.”

“Market-determined rates showed the Fed policy was too tight before rate cuts in July and September.”

“Mindful of potential excesses, imbalances that can result from keeping rates too low.”

“The US  economy is at or past full employment.”

“Expect US  inflation to reach 2% target over the medium term.”