Kaplan Says Fed Is Clearly Accommodative Right Now

The transcript discusses the importance of patience in monetary policy, highlighting the need for gradual adjustments to the Fed funds rate. It examines economic progress, challenges with inflation, and the concept of the neutral rate. The speaker advocates for a gradual removal of economic accommodation, considering structural and cyclical forces affecting inflation. The discussion also covers the current interest rates and their potential impact on the economy, emphasizing the need for a balanced approach to stimulate growth while managing inflation.

What are the structural forces mentioned by the speaker that affect inflation?

What is the speaker's stance on raising interest rates in the near future?