Dallas Fed leader Robert Kaplan on CNBC.........>

FED: Dallas Fed leader Robert Kaplan on CNBC repeats that the path of the

economy depends on the path of the virus. 

* The Fed still has capacity to expand 13(3) emergency facilities, do forward

guidance, and bond buying, Kaplan says. "We've got capacity at the Fed and we've

got a number of things we can do and we stand ready to do them." 

* "But I'd prefer for the Fed to do less, not more," he says, adding that if all

wore face masks then that would substantially mute the transmission of the

virus. 

* On the CPI report from this morning: "I don't think you are going to see much

more than muted inflation for some period of time." 

* Kaplan says he is focused on hospitalizations around increased Covid cases in

Texas and around the country, which, he says, have been a bit better in recent

days. 

* He sees a "pronounced slowing" in the rebound viewed from high frequency data,

that began to appear in mid-June.