Fed's Kaplan: Want to focus on recovery, safety after Harvey, rather than economic impact

"Economic growth will likely take a hit after the flooding and damage wreaked on the Houston area by Tropical Storm Harvey, but growth will eventually return to typical levels," Dallas Federal Reserve Bank President Robert Kaplan said in a recent speech at the North American Strategy for Competitiveness Organization, as reported by Reuters.

Key quotes (via Reuters):

• The bank has yet to conduct a detailed analysis of the economic impact of the storm
• But judging from other disasters, a period of "short-term" weakness is generally followed by a period of rebuilding, and in the end, the economy returns to its normal trend of growth