Dallas Federal Reserve President Robert Kaplan on Wednesday became the latest central banker to say it’s time to let the economy run on its own.
At a time when the Fed is undergoing criticism from President Donald Trump and some notable market voices, Kaplan said policymakers are on the right track with their gradual approach to raising interest rates.
The unemployment rate is running at 3.7 percent and inflation is just above the Fed’s 2 percent target. Believing that the Fed has met its dual mandate, the Federal Open Market Committee has hiked its benchmark rate three times this year and is on track for a fourth increase in December.
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