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11/26/2019, 2:01 PM (Source: TeleTrader)
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Kaplan expects weak Q4 in US

President of the Federal Reserve Bank of Dallas Robert Kaplan noted on Tuesday that he expects a weak fourth quarter for the United States economy.

Speaking in an interview for CNBC, he clarified that he sees "significant inventory adjustment" as one of the key reasons for the expected decline in the fourth trimester. US GDP growth is due to slow down because of "aging demographics, sluggish production and deglobalization," according to Kaplan. However, he also said that the US economy has "a good chance" to grow at 2% in 2020.

Economic uncertainty must be eased using other polices other than monetary, such as education and immigration policies. Monetary policy is in the right place, Kaplan pointed out.

Breaking the News / MS