Former Dallas Federal Reserve President Robert Kaplan spoke with US media (CNBC) on Tuesday.

“One of the reasons we got into this inflationary problem is the Fed stayed way too accommodative for too long, even as the economy was improving, and I don’t think it wants to make the same mistake on the flip side, where it stays too restrictive,”
” Because the financial system and inflation softened. It doesn’t need to make the other mistake both.”

Kaplan is well-placed to criticize the FOMC for being sluggish to hike, “way too accommodative for too long”. Earlier than he was booted from this job for questionable private buying and selling strikes whereas in his position as a really senior official, he was a lone voice warning about dangerously rising inflation when all his colleagues had been parroting the ‘transitory’ line that proved so pricey in delaying the beginning of the Fed’s fee hike cycle.

Having mentioned that, he appears to have accomplished a little bit of a flip himself from simply two weeks in the past:

Print out the above and stick it to the fridge, Federal Open Market Committee (FOMC) dates for the yr forward.