Fed’s Kaplan says central bank should begin asset tapering in October

Dallas Federal Reserve President Robert Kaplan said Wednesday that the central bank should begin to taper its monthly purchases of Treasury bonds and mortgage-backed securities in October.

His view that the central bank ought to begin cutting back in two months is perhaps the most ambitious from a Fed president to date.

Other high-ranking Fed officials, including Chairman Jerome Powell, have not yet given a forecast for when they want to pull back on the economic stimulus.

“It would be my view that if the economy unfolds between now and our September meeting … if it unfolds the way I expect, I would be in favor of announcing a plan at the September meeting and beginning tapering in…