Fed’s Kaplan says U.S. benefits from trade ties with Mexico, Canada

5/24/2017 Reuters

map north americaDallas Federal Reserve Bank President Robert Kaplan said on Wednesday that he feels “very strongly” that U.S. trade relationships with Canada and Mexico help U.S. competitiveness, in remarks that come as President Donald Trump looks at renegotiating the North American Free Trade Agreement.

“I don’t want to see us to jeopardize those relationships: it would cost U.S. jobs,” Kaplan said in Toronto during a dinner sponsored by the C.D. Howe Institute.

“I am hopeful these agreements will be addressed in a constructive way.”

Kaplan, otherwise, avoided directly commenting on policies favored by Trump, who has criticized U.S. trade agreements with Canada and Mexico, among others, saying they hurt U.S. workers.

Turning to interest rates, Kaplan said he sees two more rate hikes as a base case. The Fed has signaled that it may raise rates two more times this year, although most analysts expect only one more rate hike.

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