Dallas Federal Reserve President Robert Kaplan said on Thursday on the Fed should be patient in raising its interest rates further.

"While I believe that excessive accommodation carries a cost in terms of distortions and imbalances in hiring, asset allocation and investment decisions, I also believe that, at this juncture, the Fed needs to show patience in decisions to remove accommodation," he said.

"I believe that the Fed should avoid having a predetermined mindset regarding the path of policy," Kaplan added.

Dallas Federal Reserve president expects the U.S. economy to be resilient in 2016.

He pointed out that he did not expect the oil market to balance until mid-2017.

Kaplan is not a voting member of the Federal Open Market Committee (FOMC) this year.