Fed's Kaplan Reiterates View Of 3 Rate Hikes For 2017

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by: Investing.com

Dallas Federal Reserve Bank President Robert Kaplan reiterated his view on Tuesday that a total of three interest hikes remained appropriate for 2017.

Kaplan said three total rate hikes in 2017 is the "baseline scenario," but insisted that the Federal Reserve would continue to monitor changes in economic activity, which could pave the way for a more hawkish or dovish approach to future rate hikes.

He insisted that some of President Donald Trump's proposals are positive, but expressed concern at the Trump administration's policies concerning immigration and trade.

Kaplan's comments drew a muted reaction from markets, as both the dollar and gold futures were little changed.

The US Dollar Index traded 99.46, up 0.43%. Gold futures dropped $5.75, or 0.47%, to $1,221.35, while the U.S. 10-Year traded at around 2.401, up 1.07%.

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