July 13, 2012 / 7:07 PM / 5 years ago

Fed's Lockhart - on fence about QE3

Dennis Lockhart, President, Federal Reserve Bank of Atlanta, takes part in a panel discussion titled "Twist and Shout: The Limits of U.S. Monetary Policy" at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012. REUTERS/Danny Moloshok

JACKSON, Mississippi (Reuters) - A top Federal Reserve policymaker said on Friday that more bad news indicating the economic recovery is failing to accelerate would likely prompt a third round of quantitative easing.

“I would call myself a little bit more on the fence” on the issue of whether further bond buying is needed to prop up a weak recovery, said Atlanta Fed President Dennis Lockhart in response to questions after a speech.

“I‘m wanting to see a little more data come in, get a bit more clarity,” he said. “What will it take? It will take basically some more bad news.”

Reporting By Mark Felsenthal; Editing by Andrea Ricci

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