Head of the Dallas Federal Reserve Robert Kaplan

  • Says if limit deductions for state and local taxes, could be painful for some states
  • Says biggest threat to US economy is sluggish growth, as reflected in low 10-year treasury yield
  • US can boost economic growth with immigration, skills training

I would have preferred that if instead of 'boost' he had said embiggen

Curiously, embiggen wasn't a Ralphism

More:

  • Says he has been counselling at this stage to be a little more patient and gradual on rate rises
  • We can afford to be patient on rate hikes because economic growth is not running away from us
  • Says Fed needs to ease off the accelerator gradually so that it doesn't have to hit the brakes hard if inflation rises
  • He's alarmed by studies he has read about discouraged prime-age workers
  • Says high ratio of debt to GDP is headwind for US economy, is a factor as he thinks about rate setting
  • He has been very concerned that 10-year treasury yield has fallen as fed has raised rates
  • He sees low 10-year yield as an ominous side, limits ability of fed to raise rates
  • Says strong regulation of big banks is not hurting the economy