"As long as I continue to see us make progress, I will continue to support" further rate hikes, Kaplan said at an event at Texas A&M University, adding that he wants the Fed to move "gradually and patiently."
By "work to do," Kaplan was referring to further interest-rate hikes. Kaplan supported last week's interest-rate increase, only the Fed's third since the financial crisis, and said Tuesday the "country will be well-served" by the decision.
Dallas Federal Reserve Bank President Robert Kaplan on Friday said that he would expect U.S. oil producers to ramp up their rig count once the price of crude rises to USD55 to USD65 a barrel.
Kaplan is not a voting member on the Fed's rate-setting committee this year but he participates in policy discussions and will have a vote at next year's meetings.
conomists are forecasting 180,000 nonfarm payrolls were created in August, and the unemployment rate is expected to fall by a tenth to 4.8 percent, when reported Friday morning, according to Thomson Reuters.
"There is room for the Fed to maneuver but not as much as people might think because the neutral rate of interest is somewhat lower than people think," Kaplan told a meeting of financial service professionals in Dallas, Texas.
Dallas Fed President Robert Kaplan, speaking as results trickled in from Britain's referendum on membership in the European Union, said he was concerned about the vote because the result could stress international trade, which could hurt global economic growth.
Kaplan forecast "solid" growth of 1.9 percent for the U.S. economy this year, which he said is enough to push unemployment down further and help push inflation back up to the Fed's 2 percent target. Near-zero interest rates have a cost, and the Fed should remove some monetary accommodation, he said.