By Reuters Staff
1 Min Read
FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks during an interview in his office at the bank s headquarters in Dallas, Texas, U.S. January 9, 2020. REUTERS/ Ann Saphir/File Photo
(Reuters) - It is not yet time for the central bank to pull back on its support of the U.S. economy, but reducing stimulus when the pandemic abates and more economic progress is made will help keep the recovery on track, Dallas Federal Reserve Bank President Robert Kaplan told the Wall Street Journal.
“When we’re in the middle of a crisis, we should be aggressively using our tools, so I agree with what we’re doing now in terms of asset purchases and stance of policy generally,” Kaplan said in an interview.
By Syndicated Content
Apr 7, 2021 10:55 AM
(Reuters) - The U.S. economy could see strong growth after it emerges from the coronavirus pandemic but the distribution of vaccines will need to beat the new variants of the virus spreading now, Dallas Federal Reserve Bank President Robert Kaplan said on Wednesday. Once we do emerge, we re going to have very robust growth, Kaplan said during a virtual discussion organized by UBS. Kaplan said the U.S. economy could grow by 6.5% in 2021 and that he expects the unemployment rate to approach 4% by year end.
(Reporting by Jonnelle Marte, Editing by Franklin Paul) );
Fed’s Kaplan says U.S. economy could see robust growth after pandemic
The U.S. economy could see strong growth after it emerges from the coronavirus pandemic but the distribution of vaccines will need to beat the new variants of the virus spreading now, Dallas Federal Reserve Bank President Robert Kaplan said on Wednesday.
“Once we do emerge, we’re going to have very robust growth,” Kaplan said during a virtual discussion organized by UBS. Kaplan said the U.S. economy could grow by 6.5% in 2021 and that he expects the unemployment rate to approach 4% by year end.
Source: Reuters (Reporting by Jonnelle Marte, Editing by Franklin Paul)
2 Min Read
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) -The Federal Reserve should begin to withdraw monetary support soon after the pandemic is over, a moment that could set off robust economic growth, Dallas Fed Bank President Robert Kaplan said on Wednesday.
The central bank should start by reducing the scale of its asset purchases from the current pace of $120 billion a month, Kaplan said, though he stopped short of saying that the purchases must end completely before the Fed lifts interest rates.
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ASIA:
The International Monetary Fund (IMF) raised its FY22 growth forecast for India to 12.5% from 11.5% estimated earlier in January, even as a resurgent Covid spread threatens to undermine the country’s economic recovery. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9% in 2022. China, the only major economy to have a positive growth rate in 2020 of 2.3%, is expected to grow by 8.6% in 2021 and 5.6% in 2022.
The major Asian stock markets had a mixed day today:
NIKKEI 225 increased 34.16 points or 0.12% to 29,730.79