• Most Popular
  • Most Shared

Fed's Lockhart: Inflation too high but slowing: report

WASHINGTON
Fri May 16, 2008 7:38am EDT

WASHINGTON (Reuters) - U.S. inflation is too high but there are some signs that it is slowing, Federal Reserve Bank of Atlanta President Dennis Lockhart said on Friday, adding that monetary policy must remain flexible.

Hot Stocks

"I think it is a serious concern... My personal view is that inflation has been elevated since mid-decade, basically since 2005. For my own comfort zone, it is at an uncomfortable level," he told CNBC in a live television interview.

"My base-case forecast is that the weak economy will bring inflation down. And in fact, if you look at some of the information, the data we've seen in the last couple of cycles ...it has slowed," he said, adding:

"There is some indication, some hope, that we're seeing a slowing of the pace of inflation."

(Reporting by Alister Bull; Editing by Theodore d'Afflisio)
Hot Stocks


More from Reuters

Photo

Personal spending and income rise in November

WASHINGTON (Reuters) - Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, data showed on Wednesday, boosting hopes of a self-sustaining economic recovery.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
man walks past a stock quotation board displaying the Nikkei share average outside a brokerage in Tokyo June 1, 2009. REUTERS/Toru Hanai
Reuters Breakingviews:

Running out of options

Bad news for safety-oriented investors: the AAA debt market is shrinking, and what's left will leave many with less diversification and lower returns than they're used to, writes columnist Agnes Crane.  Commentary 

Reuters Breakingviews