May 25, 2018 / 5:42 PM / a year ago

Fed's Kaplan 'hopeful' rate-setting tweak will address issue

DALLAS, May 25 (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan on Friday said he is “hopeful” that an adjustment to a key Fed interest-rate target the next time it raises rates will take care of the issue.

“It’s an adjustment that will help us better set the Fed funds rate, and I’d be hopeful that this adjustment will address that issue,” Kaplan told reporters on the sidelines of a conference here.

In minutes of its last meeting, Fed officials indicated they are prepared to leave one of its key interest rates 0.05 of a percentage point lower than usual when it next decides to tighten policy, likely in June. (Reporting by Ann Saphir Editing by Chizu Nomiyama)

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