February 7, 2018 / 11:45 AM / a year ago

Fed should reduce accommodation to fight "excesses": Kaplan

FRANKFURT, Feb 7 (Reuters) - The Federal Reserve should gradually reduce its accommodation as an overly tight labour market raises the risk of “excesses” building up in the economy, Dallas Fed President Robert S Kaplan said in Frankfurt on Wednesday.

“If you have significant enough overshoot of full employment, history shows that usually other excesses and imbalances build,” Kaplan, a non-voting member of the Fed’s policy committee, told an event.

“It’d be wise for us to be removing accommodation, although in a patient and gradual manner.” (Reporting By Francesco Canepa; Editing by Balazs Koranyi)

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