Fed’s Lockhart Sees Potential for Raising Rates ‘Before Long’
- Lockhart supported waiting to see more progress toward goals
- Atlanta Fed chief wants to see remaining labor slack absorbed
Dennis Lockhart
Photographer: Chris Rank/BloombergThis article is for subscribers only.
Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank is nearing its goals of maximum employment and steady inflation near 2 percent, leaving the economy primed for an increase in borrowing costs.
The policy-setting Federal Open Market Committee left interest rates on hold last week in Washington, saying that it would stand pat “for the time being” to give the economy more time to move toward the central bank’s objectives.