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The Wall Street Journal: Fed’s Kaplan says interest rates should rise ‘gradually and patiently’

Federal Reserve Bank of Dallas President Robert Kaplan said Monday he will likely support more interest rate increases as long as the economy continues to see job market gains and a continued move back toward a 2% inflation rise.

“We would be wise to move gradually and patiently” with increases in short-term interest rates, Kaplan said, while offering no specifics on the timing of future monetary policy actions.

The central banker said the economy continues to make progress in terms of the Fed’s official mandates of maximum growth and sustainable inflation. He added it is prudent for the central bank to keep policy supportive of growth, while at the same time moving it toward a level that is less stimulative of economic activity.

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