June 16, 2017 / 6:39 PM / a year ago

Fed's Kaplan says he weighed rate hike tradeoffs carefully

DALLAS, June 16 (Reuters) - Dallas Federal Reserve President Robert Kaplan on Friday signaled the decision to raise rates earlier this year was, for him at least, a tough decision in light of weak inflation readings in recent months.

“In this job you make trade-off decisions; I think the fact that inflation of late has been more muted, for me, made me weigh those trade-offs much more carefully,” Kaplan told reporters after a meeting of the Park Cities Rotary Club in Dallas. While he is comfortable with where rates are now, he said, “before I’d be comfortable taking the next step in raising the fed funds rate, I’m going to want to see more evidence that we are making more progress” toward the Fed’s 2-percent inflation goal. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)

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