Market news
23.03.2021, 12:39

Dallas Fed president Kaplan expects Fed to start raising rates in 2022 - CNBC

  • Says jury is out as to whether we're going to see year after year price increases and not just temporary surge in prices
  • Base case is to see a temporary surge in prices this year so that inflation will settle down next year
  • Expectis year-over-year inflation this year to be 2.25% to 2.5%.
  • Says his forecasts has improved meaningfully
  • Expects 6.5% growth and 4.5% unemployment this year
  • Says he will advocate for scaling back stimulus after he sees strong outcomes, not just strong forecasts
  • Says his forecast for removing accommodation is more aggressive than the median
  • First step to withdrawing accommodation is to reduce asset purchases
  • Says he would expect the 10-year yield to continue rising from here to 1.75%-2.00%
  • Still believes inflation will prove somewhat temporary and will settle down next year
  • Sees no evidence of politics influencing FOMC Chairman Jerome Powell or other officials

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