Fed's Kaplan: Confident US inflation will rise to 2% by end of 2017

FXStreet (Bali) - Robert Kaplan, the new head of the Dallas Federal Reserve Bank, and a non-voted, in a speech to the Dallas chapters of Financial Executives International, said he is confident US inflation will rise to 2% by end of 2017.

Key headlines

Says he supported the Federal Reserve's December interest rate hikes

Says there are costs to keeping policy easy for too long

He expects more bouts of financial market volatility

Sees US GDP growing 2 pct to 2.5 pct in 2016

Expects US job growth to drive down jobless rate in 2016

Confident US inflation will rise to 2 pct by end of 2017

China's growth likely to slow, creating potential headwind to US, global economies

Global excess oil inventories likely won't fall until 2017

Prospect of oil exports from iran adds uncertainty, hurts prices

US oil production declines have been slow to materialize

Expects continued low oil prices, volatility