Fed’s Kaplan Calls For Patience On Raising US Interest Rates

Dallas Federal Reserve President Robert Kaplan called Thursday for the U.S. central bank to be patient when it comes to raising interest rates, citing the effect of tighter financial conditions on U.S. economic growth.

Global factors like the drop in stock markets, the decline in the price of oil, and the rise in the dollar since the beginning of the year are acting like a brake on the U.S. economic recovery, similar to the effect of an interest-rate increase, he said.