Fed's Kaplan supports near-term rate hike
A top US rate-setter reiterated his support for a near-term interest rate hike, albeit without suggesting which specific date might be best.
In remarks to broadcaster CNBC, the president of the Federal Reserve bank of Dallas, Robert Kaplan, said the Federal Reserve should raise rates "sooner rather than later".
On Monday, Reuters reported Kaplan had said "sooner rather than later means in the near future."
Kaplan also told CNBC that "I actually think we're now much closer to meeting our employment and inflation objectives.
"Once you've decided that, you need to take advantage of those windows when they present themselves."
However, he shied away from providing specific guidance on what would be the best timing for the next round of policy tightening.
"I don't think the exact timing is the most important thing. I think the path of rates is."
As of 1743 GMT the yield on the benchmark 10-year US Treasury was lower by two basis points to 2.34% and that on the two-year bond was approximately unchanged at 1.19%.