By Reuters Staff
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FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks at the Commonwealth Club in San Francisco, U.S., October 11, 2019. REUTERS/Ann Saphir/File Photo
(Reuters) - Dallas Federal Reserve Bank President Robert Kaplan reiterated Friday his view that the U.S. central bank should reduce its support for the economy at the “earliest opportunity,” once the pandemic is mostly over and as the economy gains steam.
“I don’t want to get in the mode of being reactive, and so reactive that we wind up being late,” Kaplan told the Texas A&M Bitcoin Conference. “We’ve got to balance the side effects of what we are doing - one is inflation, but also excesses and balances in the financial markets.”
4/16/2021 2:51:18 PM GMT | By Eren Sengezer
Dallas Federal Reserve Bank President Robert Kaplan said on Friday that he expects coronavirus vaccinations to outpace the variants, as reported by Reuters.
Kaplan further reiterated he forecasts a high level of economic growth in the remainder of the year. The Federal Reserve does not have an independent role related to climate change, he added.
Market reaction
These comments don t seem to be having a significant impact on the greenback s performance against its rivals. As of writing, the US Dollar Index was down 0.12% on the day at 91.55. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any inv
The Value-Added Tax: A Recipe For More Spending… And More Debt
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It is profoundly naive to think a VAT will lead to lower deficits and less debt.
It is profoundly naive to think politicians will use VAT revenues to lower other taxes.
Consider, for instance, Alan Viard of the American Enterprise.
He wrote a column last November arguing that we should let politicians in Washington have this new source of tax revenue, and I explained why his arguments were wrong.
But I’m obviously not very persuasive since he just reiterated his support for a VAT in an interview with the Dallas Federal Reserve Bank. Here are some of the highlights (lowlights might be a better term).
By Reuters Staff
1 Min Read
April 16 (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan said Friday that while the U.S. central bank has no independent role in addressing climate change, it does need to understand it because of its “significant” effect on the economy.
Climate change and efforts to address it pose risks to the fossil fuel industry as the economy transitions to alternative energy sources, Kaplan said at the City of Dallas Climate Change Symposium, and severe weather events can disrupt and potentially destabilize the financial system. “We want to make sure that the financial system that we oversee. is resilient to these risks,” he said. (Reporting by Ann Saphir)
Futures Point To Higher Open For Wall Street
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Early signs from the U.S. Futures Index suggest that Wall Street might open positive on Wednesday.
The Beige Book, Import and Export Prices for March, and Business Inflation Expectations for April as well as a slew of Fed Speeches including that of Fed Chairman Jerome Powel might influence the investor sentiments today.
Asian shares finished mixed, while European shares are trading up.
As of 7.50 am ET, the Dow futures were adding 9.00 points, the S&P 500 futures were gaining 5.00 points and the Nasdaq 100 futures were up 53.00 points.