Fed's Kaplan: US is not trapped in world of low interest rates

Fed Dallas President Robert Kaplan is crossing the wires via Reuters from San Antonio, Texas, stating that he would have been comfortable with hiking rates in September but says that Fed should be patient on hikes. However, he is concerned about financial stability.

Key headlines (via Reuters):

• There is still some slack in U.S labor market
• Less worried about economy overheating; more worried about distortions in economy from low rates