Fed's Kaplan (moderate, voter): reiterates Fed should begin process of gradual rate hikes - comments in Dallas
- Economy is strong enough for the Fed to start raising rates; rate hikes can be done in a very patient way
- Concerned that if inflation starts to heat up, Fed may need to hike rates more dramatically
- US economic growth is sluggish by historical standards, but it is healthy given current demographics; lower US growth is the new reality