Fed's Kaplan: More PPP-style lending to small businesses needed

More PPP-style (Paycheck Protection Program) lending to small businesses is probably needed, Dallas Federal Reserve Bank President Robert Kaplan said on Friday.

"Restructuring programs like the Main Street Lending to allow easier terms is a decision for the US Treasury and Congress, not the Federal Reserve," Kaplan added.

Regarding the inflation outlook, Kaplan noted that he wouldn't mind seeing inflation run at 2.25%-2.375%.

Market reaction

The US Dollar Index inched lower in the last minutes and was last seen losing 0.17% on the day at 93.10.