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5/18, 1:06 AM (Source: TeleTrader)
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Fed's Kaplan: First rate hike may be next year

Dallas Federal Reserve Bank President Robert Kaplan said that he still believes the Fed could raise rates in 2022.

Speaking during a virtual town hall, Kaplan also said that the central bank would continue to monitor inflation closely as the economy recovers from the coronavirus pandemic in order to ensure inflation remains near the Fed's 2% target.

Additionally, Kaplan noted that he expects US gross domestic product growth of 6.4% this year while unemployment could fall to 4% by the end of 2021.

Breaking the News / JC