The Fed: Fed’s Kaplan calls for interest-rate hike ‘sooner rather than later’

Bloomberg News

Dallas Fed President Rob Kaplan

The Federal Reserve should raise interest rates “sooner rather than later” to avoid having to step on the gas and push rates sharpy higher, said Dallas Fed President Rob Kaplan on Monday.

“It is my view that moving sooner rather than later will make it more likely that future removals of accommodation can be done gradually — that is, reduce the likelihood that the Fed will get ‘behind the curve’ and feel the need to remove accommodation more rapidly,” Kaplan said in an essay posted on the Dallas Fed’s website.

Kaplan is a voting member on the Fed’s policy-making committee this year.

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