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Banks

Dallas Fed's Kaplan 'actively considering' backing December rate rise: FT

Dallas Federal Reserve Bank President Robert Kaplan walks after the True Economic Talks event in Mexico City, Mexico, July 14, 2017. REUTERS/Edgard Garrido

(Reuters) - Dallas Federal Reserve President Robert Kaplan is “actively considering” supporting another increase in short-term interest rates at the central bank’s meeting in December, the Financial Times reported on Tuesday.

“History has shown that normally when we have a substantial overshoot the Fed ultimately needs to take actions to play catch-up,” Kaplan said in an interview with the Financial Times.

Kaplan said he was actively considering “appropriate next steps” when asked if he was willing to consider a rate rise at the upcoming Fed meeting, FT reported.

Kaplan said he was concerned that historically low unemployment rates, which hit a 17-year low in November, required heightened vigilance, according to the paper.

Reporting by Ismail Shakil in Bengaluru; Editing by Gopakumar Warrier

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