Fed’s Lockhart Predicts Inflation to Accelerate Toward 2% Goal

Federal Reserve Bank of Atlanta President Dennis Lockhart, who doesn’t vote on monetary policy this year, said he expects inflation that’s been “too low” will accelerate toward the Fed’s 2 percent target.

“Inflation will begin to firm” and “move gradually” closer to the Fed’s goal as the economy improves, Lockhart said in a speech today in Atlanta.

Currently “inflation is too low” he said, adding that disinflation is one risk that remains in the economy.

Lockhart’s remarks were similar to those he gave on Jan. 13 in Atlanta.

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