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Aug. 26, 2021, 11:06 a.m. EDT

Dallas Fed's Kaplan, seeing 'resiliency' in face of delta, sticks with call for September taper announcement

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By Greg Robb

Dallas Fed President Rob Kaplan on Thursday said he will press his colleagues to agree to announce a plan to start "tapering" or slowing down asset purchases in September, and to then launch the program in October or November. Kaplan had made headlines last week when he said the spread of the coronavirus delta variant might cause him to rethink this aggressive timetable. In an interview with CNBC, Kaplan said he has reviewed the latest data and wants to go ahead with his initial plan for the September taper announcement because Americans are adjusting to the delta variant. "What we're seeing is consumers and businesses are just becoming more adaptable," Kaplan said. "We're seeing resiliency." Stocks were lower on Thursday with the Dow Jones Industrial Average [s:DJIA] down almost 100 points in late morning trading.

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