Tuesday April 12, 2016

// April 12th, 2016 // Daily News

Fed’s Kaplan: US GDP growth likely under 2% for 2016

CNBC.com
Robert Kaplan

Dallas Federal Reserve President Rob Kaplan said Tuesday he’s not too concerned about the slowing economic growth in the first quarter, and the U.S. economy is likely to grow at just under 2 percent for the year.
The financial turmoil at the beginning of the year may have had more of psychological impact on consumers than previously thought, Kaplan told CNBC’s “Squawk Box.”
The path to normalizing rates is not an easy one, he said, arguing the next five years are going to be as complex to navigate as the past five years.
Kaplan sees an interest rate hike in the not-too-distant future, provided gross domestic product numbers recover as he believes they will.
In a speech Monday, Kaplan said it would be too soon to hike interest rates this month, but he expressed an openness to a possible increase in June. He’s not a voting member of the Fed’s policymaking committee this year.
Many economists expect a June rate hike, but the futures market has been more cautious, looking to perhaps December as the next tightening.
The Fed raised rates for the first time in more than nine years in December. At the time, central bankers predicted four hikes for 2016, but after holding steady in March, policymakers projected only two increases this year.
The December rate hike was not a mistake, Kaplan said. There are reasons for the Fed to be patient because slowing global growth impacts the U.S., Kaplan told CNBC.
Kaplan took over at the Dallas Fed in the fall, following the retirement of Richard Fisher, who served 10 years at the helm. During his 23 years at Goldman Sachs, Kaplan served in various capacities, including vice chairman.
Monetary policy can’t fix everything, Kaplan said, calling for Washington to get past the gridlock of recent years and put forth fiscal policy.
He said there’s a cost to excessively low rates such as squeezing savers looking for returns.

Today’s Inspiration

High Praises of God

by Joyce Meyer – posted April 12, 2016

Let the saints be joyful in the glory and beauty [which God confers upon them]; let them sing for joy upon their beds. Let the high praises of God be in their throats and a two-edged sword in their hands.
—Psalm 149:5-6

We should form a habit of thanking and praising God as soon as we wake up each morning. While we are still lying in bed, let’s give thanks and fill our minds with Scripture.

Praise defeats the devil quicker than any other battle plan. Praise is an invisible garment that we put on and it protects us from defeat and negativity in our minds. But it must be genuine, heartfelt praise, not just lip service or a method being tried to see if it works. We praise God for the promises in His Word and for His goodness.

Worship is a battle position! As we worship God for Who He is and for His attributes, for His ability and might, we draw closer to Him and the enemy is defeated.

We can never be too thankful! Thank God all day long and remember the many things He has done for you.

God never loses a battle. He has a definite battle plan, and when we follow Him, we will always win.

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