Recession fears have been blown out of the water, long-serving Fed president says

Robert Kaplan, president of the Federal Reserve Bank of Dallas, says the US economy is not headed for a recession.

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Kaplan believes that fears of a recession have been 'blown out of the water.'

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He cites strong consumer spending, low unemployment, and a healthy housing market as reasons for his optimism.

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Kaplan also notes that the US-China trade war is a risk to the economy, but that it is not the only factor to consider.

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He believes that the Fed's recent interest rate cuts have been appropriate and that they will help support the economy.

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Kaplan says that the Fed will continue to monitor economic data and adjust policy as needed.

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He also emphasizes the importance of addressing long-term issues such as education and infrastructure to ensure continued economic growth.

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Overall, Kaplan's comments suggest that the US economy is in a relatively strong position and that a recession is not imminent.

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