Kaplan interview with Reuters:
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Fed has not downgraded forecasts but needs to understand the effects on US
– It’s ‘significant’ that the Fed removed the reference to ‘balanced’ risks in the statement
Dovish stuff from Kaplan as the Fed begins The Great Climbdown. It’s like they’ve finally seen headwinds that everyone warned them about but in December they were so fixated on that first hike that they missed all the signals.