The Wall Street Journal: Fed’s Kaplan says monetary policy has reached limits for bolstering growth

Federal Reserve Bank of Dallas

Robert Kaplan

ALBUQUERQUE — Federal Reserve Bank of Dallas President Robert Kaplan called for “structural reforms and other fiscal policy” to help jump-start the U.S. economy, which he said would give the central bank more “operating room” to raise interest rates.

In a question-and-answer session at a community banking conference in Albuquerque, N.M., Kaplan said the nation’s second-quarter growth in gross domestic product was disappointing though not surprising, given sluggish global demand.

The U.S. economy grew 1.2% in the second quarter, less than the 2.6% that had been expected by economists in a Wall Street Journal survey.

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