2/14/2017, 7:40 PM (Source: TeleTrader)
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Fed's Kaplan sees US growth above 2% in 2017

President of the Federal Reserve Bank of Dallas Robert Kaplan said on Tuesday he thinks the present year is going to be "pretty strong" for the American economy, with growth slightly above 2%. 

Speaking at a Greater Houston Port Bureau luncheon, the policymaker reiterated his earlier call to raise interest rates sooner rather than later, so that increments in the cost of borrowing can be made gradually and slowly. This way, the probability of causing disruptions to the United States economy would be minimized, the central banker explained. He also said that the US labor market is relatively tight, with inflation nearing 2%, and that the slack in labor force is rapidly declining.

Dennis Lockhart, President of the Atlanta Fed, was also on the wires today, claiming that the economy is well-poised for growth and moderate increases in the federal funds rate. 

Kaplan is a voting member of the Federal Open Market Committee this year, while Lockhart is not.

Breaking the News / IB