However, Kaplan assured that he wants to see "actual evidence that that forecast is going to unfold" before advocating for scaling back stimulus measures. He added that reducing asset purchases would be the first step toward removing accommodation.
He forecast year-over-year inflation 2.25 percent to 2.5 percent in 2021, although he cautioned that there is uncertainty about whether there will be a temporary surge in prices or a sustained yearly rise. He also predicted that the 10-year yield will "back up further from here."