Dallas Fed hawk Kaplan is open minded about one more hike
Dallas Fed hawk Kaplan is open minded about one more hike this year in December, but he has not made a decision yet. He sees structural headwinds, including technology holding inflation down. He also sees a shortage of construction workers around Houston leading to a "healthy" discussion of immigration policy, though he anticipates a snapback in growth from Harvey. Kaplan views net negative growth in due to workforce demographics, with immigration need to fill the gap. Risk from China remains a "danger spot" in terms of rising debt levels there. He also said the oil industry is in fragile equilibrium at around $50 bbl. Sounds like he's a bit on the fence in policy terms, perhaps colored by the recent impacts of Harvey in Houston.