December 3, 2018 / 7:17 PM / 6 days ago

Fed's Kaplan sees challenges on rate path as global growth slows

LAREDO, Texas (Reuters) - The Federal Reserve is in a “more challenging” period in its efforts to normalize monetary policy, Dallas Fed President Robert Kaplan said on Monday, adding that he is focused on not being pre-determined about the future path of U.S. interest rates.

“I’m not expecting a recession, but I am expecting a moderation in GDP growth” next year, he said, citing a slowdown in global growth, a softening in interest-rate sensitive sectors in the U.S.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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