Fed’s Lockhart Says FOMC Should Be Patient After Weakening Jobs
- Atlanta Fed leader sees 2 rate hikes likely warranted in 2016
- Chair Yellen’s 12.30 p.m. speech last word before blackout
Fed's Lockhart: Jobs Report, Brexit Justify Patience
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Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank should wait until at least next month to consider raising interest rates because of a slowing labor market and the British vote on European Union membership, adding his voice to the argument for a delay ahead of a speech by Chair Janet Yellen.
“I don’t personally see a lot of cost to being patient to the July meeting at least,” Lockhart said Monday in a Bloomberg Television with Michael McKee in New York. “I think we can be watchful and see how things develop over the next few weeks.”