Robert Steven Kaplan, former President & CEO of the Federal Reserve Bank of Dallas, joins Forward Guidance to share his views on the U.S. economy, banking system, and the Fed itself. Filmed on June 12, 2023, two days before the end of the meeting of the Federal Open Market Committee (FOMC).
Robert Kaplan’s website: https://www.robertstevenkaplan.com/
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Timestamps:
00:22 Pause Likely at June Fed Meeting, According To Market Pricing
01:16 Why Kaplan Voted Against Ultra-Loose Monetary Policy (September 2020 Dissent re: Forward Guidance & Flexible Average Inflation Targeting)
05:02 Fed Has Slammed On The Brakes
06:40 Did Fed Action Exacerbate Banking Stress?
15:13 How Fed Thinks About Inverted Yield Curves
16:53 Global Economic Recovery, April 2020 to Present
24:02 Did The Fed "Monetize" The U.S. Debt?
25:10 Future Economic Outlook
29:25 In-Depth Thoughts On Banking Turmoil
39:36 Deposit Outflows Will Depend on The Credit Cycle
41:32 Interal Politics At The Federal Reserve
50:56 Fed Cuts Are Off The Table For Now
53:08 How Closely Does Fed React To Stock Market (vs. Credit Market)?
55:08 Inflation, Oil, and Energy Policy
59:34 Venture Philanthropy & Venture Capital
01:02:41 Closing Thoughts
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