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Kaplan reiterates Fed should be patient in raising rates

Dallas Federal Reserve Bank President Robert Kaplan reiterated that the Fed should be patient when it comes to raising interest rates, Reuters reported.

Speaking at an Oct. 13 conference in Boston, Kaplan said the Fed should be gradual in removing accommodation as policymakers continue to debate why inflation is lagging. He said that policy will still remain accommodative, even with another rate hike.

On Oct. 10, Kaplan said he will only favor another rate hike if there are more signs of upward inflation. The Fed is widely expected to raise rates again in December.