Differing Fed Views on December Rate Hike
Dallas Fed President Robert Kaplan said Monday that the Federal Reserve Board (FRB) will need to take a "hard look" at raising rates in December, but there is no need to wait for inflation to hit, or even begin to get closer to, the FRB's 2 percent target before doing so, according to a Reuterarticle.

"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 voting member this year on the FRB's policy committee, told reporters in El Paso.

That is a different bar than others at the Fed are setting, including Minneapolis Fed President Neel Kashkari, who said Monday that his "preference would be not to raise rates again until we actually hit 2% core PCE inflation on a 12- month basis," as Reuters reported. Kashkari was referring to the FRB's preferred measure of inflation, personal-consumption expenditures, also known as the PCE deflator.

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