Fed’s Robert Kaplan eyeing COVID delta variant’s ‘material impact’ on demand, GDP growth
Federal Reserve Bank of Dallas President Robert Kaplan says he is ‘watching very carefully’ the path of the delta variant and would ‘adjust’ his views on policy if it impacts GDP.
Federal Reserve Bank of Dallas President Robert Kaplan told FOX Business' "Mornings with Maria" Friday that he is "watching very carefully" how the delta variant may impact the U.S. economy and would "adjust" his views on policy "somewhat" if it were to slow growth.
"It's unfolding rapidly," he told host Maria Bartiromo.
Kaplan previously stated that the Fed should begin tapering this fall. However, he pointed out that the "big imponderable" is the "path of this virus" and would assess its impact on GDP growth before the next policy meeting.
"So far, it's not had a material effect on – based on high-frequency data – dining out, consumer activity," he said. "It is having an effect in delaying return to office. It's affecting the ability to hire workers because of fear of infection."
FED SIGNALS TAPERING COULD COME THIS YEAR
Dallas Fed’s Kaplan on delta variant, interest rates
Federal Reserve Bank of Dallas President Robert Kaplan provides insight into tapering, unemployment, interest rates, economic growth and delta variant concerns.
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Kaplan added a "big economic variable" is how quickly the U.S. population can get vaccinated, as well as mask-wearing and other ways to protect from the virus.
The Associated Press contributed to this report.
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