Fed's Kaplan says case for rate hike is strengthening

November 4, 2016 1:04 PM EDT

New home construction continues in Carlsbad, California June 24, 2008. REUTERS/Mike Blake

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MEXICO CITY (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan on Friday said he believes there is increasing reason to raise U.S. interest rates, though he declined to say when the next rate hike should take place.

"I think the case for removing some accommodation is strengthening," Kaplan said after a speech to the AsociaciĆ³n de Bancos de Mexico, adding that he believes the path of rate hikes will be shallow. Asked about the impact of the U.S. presidential election on the economy, he declined to comment.

(Reporting by Michael O'Boyle, writing by Ann Saphir; Editing by Chris Reese)

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