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Fed's Kaplan Urges Watch, Wait Before Easing
Federal Reserve Bank of Dallas President Rob Kaplan on Monday urged policymakers to allow events to unfold before lowering interest rates, adding it's too early to judge whether trade tensions and a global economic slowdown will cause a material deterioration in the U.S. outlook. Easing policy now would "contribute to a build-up of excesses and imbalances in the economy which may ultimately prove to be difficult and painful to manage," he warned. "Monetary accommodation is not 'free,'" he said in an online essay. "I intend to be highly vigilant with regard to the persistence of heightened trade tensions and ... (full story)