OXFORD, Miss. Nov 8 The Federal Reserve is
still far from its inflation and employment goals, Atlanta Fed
President Dennis Lockhart said on Friday, although he would not
rule out potentially cutting back stimulus in December.
Lockhart said stronger-than-expected U.S. job creation in
October was encouraging but warned against reading too much into
one month's data.
Data between now and the Fed's December meeting, when
policymakers will discuss whether to maintain its $85 billion a
month bond-buying program, would still have some noise, he said.
"We are far from our mandated statutory goals. The economy
remains weak," Lockhart said during a question-and-answer
The Fed's mandate calls for maximum employment, stable
prices, and moderate long-term interest rates. The jobless rate
is currently running at 7.3 percent and annual inflation was 0.9
percent in September, according to the Fed's
preferred measure of price pressures.