September 7, 2018 / 7:14 PM / a year ago

Fed's Kaplan: too early to decide when to end rate hikes

DALLAS (Reuters) - Dallas Federal Reserve President Robert Kaplan said on Friday he believes that interest rates can rise to about 2.5 percent to 2.75 percent before rates will stop acting as a boost to the economy, and that though that estimate is imprecise, “I for one am skeptical that the neutral rate is rising.”

Asked if rates should go beyond that level, as Chicago Fed President Charles Evans suggested earlier this week, Kaplan said it’s too early to say. “That’s a judgment that I’m not prepared to make yet and I don’t have to make yet, because it won’t be until middle spring to middle of next year before we are approaching a level that I think is in the range of neutral and I will all along the way be revising my views for what is the outlook for the economy.”

Reporting by Ann Saphir; Editing by Andrea Ricci

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