FX

Fed’s Kaplan: Spending tailwind for US economy looks strong

Dallas Fed President Robert Kaplan reiterated on Thursday that he would rather see the Fed take its foot a little off the gas pedal sooner rather than later, as reported by Reuters.

Additional takeaways

“The spending tailwind for the US rconomy looks strong.”

“Right now, balance of power is to the worker, who can wait for a better a job because of unemployment benefits.”

“Substantial progress means evidence we’ve weathered the pandemic, which we are seeing.”

“Substantial progress also means progress on employment, inflation goals.”

“It’s critical to start talking about adjusting asset purchases.”

“I don’t think the housing market needs the support at the level the fed is providing.”

“It would be healthy to discuss Fed’s MBS purchases in light of housing market.”

“It’s a mistake to make fiscal policy that relies heavily on the dollar as a reserve currency.”

Market reaction

Market participants don’t seem to be paying any attention to these comments. As of writing, the US Dollar Index was up 0.7% on the day at 90.52.

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