Fed Making ‘Sluggish’ Progress on Goals for U.S. Economy: Kaplan

ALBUQUERQUE, N.M. – Dallas Federal Reserve Bank President Robert Kaplan stated on Friday that the U.S. economy is progressing slowly towards fulfilling the central bank’s goals.

Kaplan remarked, “I’d say we are making slow but … sluggish progress to meeting our objectives,” during his address to a community bankers association in New Mexico.

The Federal Reserve is tasked with a dual mandate, which includes achieving full employment and maintaining an inflation target of 2 percent.