Fed's Kaplan: Getting ‘awfully close to full employment’

Dallas Federal Reserve Bank President Robert Kaplan recently crossed the news wires, saying that the U.S. was getting 'awfully close to full employment.'

Key quotes:

• Tax reform does make sense but worried about tax cuts funded by a rise in debt to GDP.
• Debate at Fed is pace of hiking rates, but there's consensus it should be gradual.
• Watching ‘very carefully’ for excessive debt build up associated with easy financial conditions.
• Neutral rate closer to 2.5%.
• Can Afford To Patient, Gradual Regarding Rate Hikes.