The Federal Reserve should be patient and cautious about raising short-term interest rates, but should nevertheless increase them in a sustained way, Dallas Fed President Robert Kaplan said on Wednesday. What people should understand, he said, is that the Fed sees "a resilient economy and a sustained, but cautious and gradual path," for interest-rate hikes. Kaplan forecast "solid" growth of 1.9 percent for the U.S. economy this year, which he said is enough to push unemployment down further and help push inflation back up to the Fed's 2 percent target. Near-zero interest rates have a cost, and the Fed should ... READ MORE
