Robert Kaplan, former president of the Federal Reserve Bank of Dallas, is now at Goldman Sachs. During his time as head of the Dallas branch he was was well ahead of the curve saying inflation was not transitory.
He spoke with CNBC on Monday, saying the Fed is going to lay the groundwork for a September interest rate cut.
- “If I were sitting in my former seat, I’d be getting ready to cut the rates in September”
- “I wouldn’t make any commitments between now and then, but I think they’re going to position to cut rates in September, and they’ll take it then one meeting at a time”
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We are half way through the Fed meeting year:
This article was written by Eamonn Sheridan at www.forexlive.com. Source