More from Fed's Kaplan - Biggest threat to US economy is sluggish growth

Head of the Dallas Federal Reserve Robert Kaplan

Says if limit deductions for state and local taxes, could be painful for some states
Says biggest threat to US economy is sluggish growth, as reflected in low 10-year treasury yield
US can boost economic growth with immigration, skills training

I would have preferred that if instead of 'boost' he had said embiggen

Curiously, embiggen wasn't a Ralphism

Says he has been counselling at this stage to be a little more patient and gradual on rate rises
We can afford to be patient on rate hikes because economic growth is not running away from us
Says Fed needs to ease off the accelerator gradually so that it doesn't have to hit the brakes hard if inflation rises
He's alarmed by studies he has read about discouraged prime-age workers
Says high ratio of debt to GDP is headwind for US economy, is a factor as he thinks about rate setting
He has been very concerned that 10-year treasury yield has fallen as fed has raised rates
He sees low 10-year yield as an ominous side, limits ability of fed to raise rates
Says strong regulation of big banks is not hurting the economy