Fed’s Kaplan more cautious than portrayed; oil comments also telling

Kaplan publishes essay
– While I believe that these recent readings on inflation are likely not indicative of a weakening trend, I intend to be patient and open minded in assessing upcoming data releases in this regard.
The newswire headlines on Kaplan’s speech are hawkish but the actual text shows that he’s worried about low inflation and not as confident as he was before.