Dallas Pres Kaplan Reiterates Cautious Stance On New Action

Dallas Fed Pres Robert Kaplan in his second interview published this week (with the WSJ today, after Reuters published one Monday), reiterates that he would favour the Fed providing clarification "in the not too distant future" on its asset purchase policy. This would include guidance on conditions under which they begin to taper the program.

• However, Kaplan told the WSJ he didn't see the need to make a change to the asset purchase program at the moment; if the Fed were to make changes, his preference would be to adjust the maturity of purchases, not the size.
• He has said similar previously, including in Monday's Reuters piece, which covered much of the same ground.
• Kaplan is arguably the most hawkish current voter on the FOMC, particularly given his dissent at the September FOMC over the change to language on forward guidance.