Fed's Lockhart says early rate hike could hurt progress: BBG Radio
NEW YORK (Reuters) - Atlanta Federal Reserve Bank President Dennis Lockhart warned of the risk of an early interest rate hike and said he maintained the view that mid-year 2015 was likely the best time to begin tightening monetary policy.
"I think there is some risk of moving prematurely and snuffing out some progress," Lockhart said in an interview on Bloomberg Radio. Many Fed officials are currently attending a central bank symposium in Jackson Hole, Wyoming, which began Thursday.
"I'm holding to the view that mid-year 2015 is probably about the right time for the beginning of a cycle of tightening," he said, and added that he would like to see "a bit more evidence accumulate" on the strength of the economy.
(Reporting by Sam Forgione Editing by; W Simon)
- First Ebola case diagnosed in the United States: CDC |
- Advanced iOS virus targeting Hong Kong protestors -security firm
- Hong Kong democracy protesters and officials mark uneasy National Day |
- U.S. orders airlines to replace cockpit displays on 1,300 Boeing airplanes
- Mayor of Los Angeles suburb of Bell Gardens shot dead