© Reuters. Robert Kaplan, President of the Federal Reserve Bank of Dallas. Photo from the Reuters archive.
WASHINGTON (Reuters) – Dallas Federal Reserve Bank President Robert Kaplan said on Monday the tendency of U.S. central bank monetary policy makers to a faster expected start to interest rate increases was a reaction to economic prospects that shifted sharply between December and June.
As of December, Kaplan added, the course of the coronavirus pandemic was still murky, but “when we got to March it was more and more clear that we were heading towards pandemic control… and when we got to June we really had an improvement.” “Big” made most officials expect interest increases in 2023 instead of 2024.
“What we are seeing is that monetary policy makers are simply responding to a significant improvement in the economic outlook.”
(Prepared by Wagdy Al-Alfi for the Arabic Bulletin)
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