Fed's Kaplan says need fiscal, regulatory fixes to boost growth
DALLAS, Sept 9 (Reuters) - U.S. economic growth will suffer in coming years as the U.S. population ages unless fiscal and regulatory fixes are put in place to replenish the workforce and make it more productive, a top Federal Reserve official said on Friday.
"Monetary policy will not fix" the problem of slow economic growth, Dallas Fed President Robert Kaplan told the Security Traders Association. During the financial crisis and its aftermath the Fed used low rates to fight a war against recession and deflation, he said, but now even with very low interest rates the economy is set to grow only 1.75 percent to 2 percent this year. "Now we are in a period where the war now is, we got to grow," he said. (Reporting by Ann Saphir; Editing by Diane Craft)
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