Dallas Fed Chairman Robert Kaplan told CNBC on Thursday he is still of the opinion that at the September policy meeting it would be time to announce a plan for the phase-down and begin in October or shortly thereafter, as reported by Reuters.
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“Overall, business contacts are weathering Delta at least as well as previous waves.”
“Companies are seeing resilience.”
“Consumers and businesses are becoming more adaptable, and acceptance of surges will come in fits and starts.”
“Businesses and consumers are learning to adapt and move on with their lives at Delta.”
“There is no demand problem in the economy, their outlook is strong economic resistance.”
“There are some distortions in the economy, particularly in the credit markets.”
“The United States would be much healthier if the Fed starts to divert the economy away from asset purchases.”
“Credit spreads are historically tight.”
“The Fed has communicated that a gradual reduction is approaching.”
“I’d rather start cutting back early, but do it for ‘more or less’ eight months, although I’m still open-minded.”
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