Fed's Kaplan: Expects 1.9% US GDP growth in 2016

Robert Kaplan, president of the Federal Reserve Bank of Dallas, is crossing the wires, noting that he expects 1.9% US GDP growth this year.

Headlines

Expects 'some period of time' before meet inflation target

Federal Reserve should be patient, gradual about rate hikes

It is important to remove some accommodation gradually, because of costs of near-zero rates

Sees a sustained, cautious, gradual path of Fed rate hikes