Fed's Kaplan: No rate move now but 'open minded' about June

Dallas Fed President Kaplan:

– Fed ought to be patient in this environment

– Data doesn’t support a Fed move now

– Consumer should be strong, jobs data stronger than GDP

The Fed funds futures market is pricing just a 15.7% chance of a hike in June compared to 40% before last month’s FOMC. The hawks have been burned too many times to believe that Yellen will pull the trigger in June.

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