Need to consider more data before deciding on interest rate hike, Fed´s Kaplan says

The US central bank needs to consider more economic data before it decides to embark on increasing interest rates again, a top official said.

Speaking on Sunday, the president of the Federal Reserve bank of Dallas, Robert Kaplan, said the central bank should not overreact to the weaker than expected reading on US gross domestic product for the second quarter, Reuters reported.

Nevertheless, reports early on Monday morning cited him as having told Bloomberg TV that a first rate increase in the Fed funds rate was "very much on the table" if the economic data supported it.