Feds Kaplan starts his virtual Q&A session at Texas Tech
Fed's Kaplan
- sees GDP growth that 6.5% in 2021 but watching Delta variant carefully
- sees PCE inflation at 3.8% – 3.9% at the end of 2021
- sees PCE price pressures remaining at 2.5% in 2022
- most businesses are saying demand is strong and what they are dealing with is supply issues
- supply issues will get resolved but will persist
NASDAQ index is trading around +125 points. The Dow industrial average is up about 165 points at the start of his speech