October 2, 2017 / 7:22 PM / a year ago

Fed's Kaplan says looking for signs inflation is building

EL PASO, Texas, Oct 2 (Reuters) - Dallas Fed President Robert Kaplan said Monday he does not need to see actual inflation rising but only signs that it will rise to support a rate hike in December.

“I need to see evidence that this battle between the structural and the cyclical, I need to see some evidence that I think the cyclical forces are picking up enough that eventually it’s likely that inflation will start to build in the future, even if I can’t see it yet,” Kaplan, a voter on Fed policy this year, told reporters after a speech here. He said he will look at the details of inflation reports as well as other measures such as merger and acquisition activity to judge if such evidence is building.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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