Fed to soon shed bonds, should hold off rate hikes -Kaplan

The Federal Reserve will set a time frame for beginning to shed some of its $4.2-trillion bond portfolio "soon" but, given inflation weakness, it should hold off interest rate hikes for now, Dallas Fed President Rob Kaplan said on Friday.

"I want to make sure before we take a next step that I understand incoming data ... and that we are making progress" toward a 2-percent inflation goal, he told reporters.

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