Fed’s Kaplan: Phase-one deal is positive, creates some stability

The phase-one trade deal with China is positive for the US economy as it creates “some stability,” Robert Kaplan, President of the Federal Reserve Bank of Dallas, told Bloomberg TV on Wednesday.

Kaplan further noted that he is concerned about the impact of the Fed’s monetary policy on asset prices and added that he hopes the Fed will come up with a plan to temper the balance sheet growth.

These comments had no impact on the greenback’s market valuation and the US Dollar Index was last seen at 97.25, erasing 0.15% on a daily basis.