Robert Kaplan says markets overprice rate hikes, supports October pause

Former Dallas Fed President Robert Kaplan stated that financial markets are overestimating the pace of U.S. Federal Reserve rate hikes. He indicated that a September rate increase was appropriate and suggested that another hike in December could be reasonable, but he prefers to keep rates steady in October. Kaplan noted that the Fed's dot plot indicates one additional hike this year, while markets are anticipating at least three more hikes by June next year. He acknowledged ongoing inflation concerns but mentioned that sectors sensitive to interest rates, such as autos, housing, and industries serving middle- and lower-income households, are not overheated.

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