Lockhart Says He’s Not Convinced Economy Will Strengthen in 2013

Federal Reserve Bank of Atlanta President Dennis Lockhart said he isn’t convinced the U.S. economy this year will significantly outperform the modest growth of recent years.

“I have not seen enough evidence yet to convince me that 2013 is going to break out of that pattern that we’ve seen, really over the last four years,” Lockhart said in a panel discussion at the University of Dayton in Ohio with Chicago Fed President Charles Evans.

The economy will see “a continuation of the story that we’ve been living,” Lockhart said. “A modest pace of growth, inflation that is pretty well contained and a very gradual reduction in unemployment.”

Evans this year holds a vote on the policy-setting Federal Open Market Committee while Lockhart does not.

To contact the reporters on this story: Joshua Zumbrun in Washington at jzumbrun@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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