Dallas Fed President Rob Kaplan said in an interview with the CNBC on Tuesday that the Fed could raise its interest rate in the near future. He pointed out that the interest rate hike in December was the right decision, adding that gradual interest rate hikes would be appropriate.

Kaplan expects the U.S. economy to expand below 2% this year.

Dallas Fed president noted that next five years would be more complex for the Fed than the past five years.

He also said that the weak global growth weighed on the U.S. economy.

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