Another two to three interest rate increases from the Federal Reserve will likely put U.S. borrowing costs in “neutral” territory where it is neither stimulating nor restricting economic growth, Dallas Federal Reserve President Robert Kaplan said on Friday. At an event sponsored by the Manhattan Institute, Kaplan said he has not decided yet whether the Fed would need to raise rates above this neutral level. Against solid economic fundamentals, Kaplan said current Fed policy remains “modestly” accommodative. It may achieve a “neutral” level with two to three quarter-point hikes toward 3 percent by June 2019. Kaplan’s ... (full story)