Economics
Fed's Lockhart Says Global Markets Drop Won't Hurt U.S. Outlook
- Atlanta Fed chief says his `bias' is for no January rate rise
- Lockhart says recent data `mixed' and 4th quarter weak
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Federal Reserve Bank of Atlanta President Dennis Lockhart said he favors continued tightening of monetary policy this year, and a global selloff in stock markets is unlikely to affect the U.S. economy.
“When such volatility develops, I think it’s helpful to look at the real economy of the United States as opposed to the financial economy and ask if something is fundamentally wrong,” Lockhart said in a speech Monday in Atlanta. “Are there serious imbalances that make the broad economy vulnerable to foreign shocks? I don’t see that kind of connection in current circumstances. ”