Fed's Kaplan: Jury out on Brexit effect on US economy

Robert Kaplan, President of the Federal Reserve Bank of Dallas, notes jury is out on Brexit effect on US economy.

Headlines

Says US economy more global than before, policymakers must heed what's going on globally

Need to be able to differentiate between global events that impact US and those that don't

Jury is out on Brexit effect on US economy

Says we are facing and adjusting to the reality of US vulnerability to global events

Federal Reserve I cautious on rate increases because the neutral rate is lower than most people think

Rates this low create distortions in investments and hiring