Fed’s Lockhart Says Higher Rates in 2015 But No Rush

May 28, 2014 Share Print 0

The U.S. economy should rebound to a roughly 3 percent annual growth rate after a rocky start to 2014 and put the Federal Reserve on track to raise rates later next year, Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday.

Lockhart, who does not currently sit on the Fed’s policymaking committee, said he was “not in a rush” for the central bank to end the era of loose monetary policy and begin raising rates.

Speaking at Louisiana State University’s Graduate School of Banking, Lockhart said there was still ample slack in labor markets and a need for the Fed to be patient until it is clear that economic growth is sustainable and strong enough to maintain full employment.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.