Fed's Kaplan: If unemployment rate rises, that could be sign of a coming recession

Dallas Federal Reserve Bank President Robert Kaplan is crossing the wires, arguing that a rise in the unemployment rate could be taken as a sign of a coming recession.

Key quotes (via Reuters)

Gradual wind-down on balance sheet began when thought it was unlikely to soon return to zero interest rates.

I see 2 pct plus growth for U.S. economy next year.

I have confidence in economic growth because households leverage has fallen.

Powell as Fed chair signifies continuity, new Fed governors like quarles may have new views.

The Fed should review its governance, its frameworks, its targets, and supervision of small banks.

Any good organization needs to make changes, Fed has a good process to debate ideas.

Some of low market volatility may be due to Volcker Rule, would welcome a review of it.

Stress tests and capital requirements for big banks are not hurting u.s. economic growth.