Fed's Kaplan sees sustained, gradual U.S. rate hikes

The Federal Reserve should be patient and cautious about raising short-term interest rates, but should nevertheless increase them in a sustained way, Dallas Fed President Robert Kaplan said on Wednesday. What people should understand, he said, is that the Fed sees "a resilient economy and a sustained, but cautious and gradual path," for interest-rate hikes. Kaplan forecast "solid" growth of 1.9 percent for the U.S. economy this year, which he said is enough to push unemployment down further and