Fed’s Kaplan sees US inflation rising but not ‘running away’

Mary Catherine Wellons | CNBC

Robert Kaplan, president and CEO of the Federal Reserve Bank of Dallas.

U.S. inflation is rising toward the Federal Reserve’s 2 percent goal while not accelerating enough to suggest the economy is overheating, Dallas Federal Reserve President Robert Kaplan said on Tuesday.

Inflation is approaching two percent but it’s “not running away from us,” he said at an event titled “Energy, Trade, and Energy Growth” sponsored by the Council for Foreign Relations.