Fed’s Lockhart Favors Interest-Rate Liftoff Later This Year

Federal Reserve Bank of Atlanta President Dennis Lockhart said while recent market volatility raised risks to the U.S. economic and inflation outlook, he remains confident the central bank will raise interest rates this year.

Calling it a “close call” by the Federal Open Market Committee last week to hold interest rates near zero, Lockhart said Monday that he had voted with the majority as “prudent risk management around recent and current market volatility.”