February 1, 2019 / 3:42 PM / 6 months ago

Fed should 'get out of the way' on rate hikes until June: Kaplan

AUSTIN, Feb 1 (Reuters) - The Federal Reserve needs to “get out of the way” until at least mid-year amid downside risks including slowing global growth, weakness in the U.S. housing and manufacturing sectors, and tightening financial conditions, Dallas Federal Reserve Bank Robert Kaplan said on Friday.

“It’s very important that the Fed get out of the way here and take no action in terms of the Fed funds rate for the time being,” Kaplan told the Texas Lyceum in Austin, adding that his base case is for the Fed to leave rates unchanged until at least June. (Reporting by Ann Saphir Editing by Chizu Nomiyama)

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