August 23, 2019 / 1:13 PM / 2 months ago

Fed's Kaplan: trade, immigration affecting U.S. economy, not monetary policy

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks with an attendee at an annual energy conference at the Dallas Fed headquarters in Dallas, Texas, U.S. September 7, 2018. REUTERS/Ann Saphir

WASHINGTON (Reuters) - Dallas Fed President Robert Kaplan on Friday pushed back against assertions that moves by the central bank were weighing down the U.S. economy, saying other factors, such as trade and immigration, were far more significant.

“The fulcrum, or the center of gravity, in U.S. economic policy today is not monetary policy. It’s trade uncertainty. It’s probably immigration policy in some extent,” Kaplan said in an interview with Bloomberg TV.

Reporting by Makini Brice and Doina Chiacu

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