May 15, 2018 / 2:06 PM / 8 months ago

Fed's Kaplan says prefers that U.S. yield curve not invert

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan gestures during a news conference after of the True Economic Talks event in Mexico City, Mexico, July 14, 2017. REUTERS/Edgard Garrido/File Photo

NEW YORK (Reuters) - Dalllas Federal Reserve President Robert Kaplan said on Tuesday he is keeping an eye on the shape of the U.S. yield curve and would be wary if it were to invert, a market move that has often preceded recent U.S. recessions.

Kaplan, who spoke to reporters after an event sponsored by the Council for Foreign Relations, said he would not like to see the U.S. yield “inadvertently” invert, a move in which short-term U.S. bond yields rise above long-term ones.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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