Fed's Lockhart not convinced more easing needed now
CHICAGO (Reuters) - Atlanta Federal Reserve President Dennis Lockhart said on Monday he was not convinced that current economic circumstances call for additional monetary easing "quite yet."
"I don't think any of the options should be taken off the table under the current circumstances. But I'm not convinced at this moment that the circumstances quite yet call for additional action," Lockhart told reporters.
He added that an adjustment to the way the U.S. central bank communicates, as opposed to asset purchases, is a possible easing tool if needed.
Pressure has intensified on the Fed to take yet more policy action after U.S. jobs growth in May was far weaker than expected and as Europe's financial and debt crisis brews. Lockhart has a vote this year on the Fed's policy-setting meeting, which meets next week.
The policymaker said he does not yet have a "highly certain view" as to whether the current weakness in the U.S. labor market is a "lull" or something more persistent.
"We're going to have some months that are stronger than others" in job creation, he said on the sidelines of a Tennessee Bankers Association meeting.
"It's a little bit unclear to what extent very warm weather in the winter months pulled forward some activity that is now being felt with weaker job growth in the later months of the year."
(Editing by James Dalgleish)
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