Monitoring for financial instability, particularly in non-bank financials

Dallas Federal Reserve President Robert Kaplan said on Monday that they are monitoring for financial instability, particularly in the non-bank financials, as reported by Reuters.

Additional takeaways

“Once it’s clear we’ve weathered pandemic, would be much healthier to be weaning from extraordinary measures.”

“City and state officials tell me they are under fiscal strain.”

“Running the economy hotter should help get more back to work, especially blacks, Hispanics, women.”

“Skills training, daycare, and broader access to wifi are also needed to get more back to work.”

“We need to be aggressive in fiscal, monetary policy actions.”

Market reaction

These comments failed to trigger a significant market reaction and the US Dollar Index was last seen gaining 0.45% on the day at 91.00.