Plus   Neg

Fed's Lockhart: April Rate Hike On The Table

lockheart 032116

Atlanta Federal Reserve President Dennis Lockhart expects the Federal Reserve to hike interest-rate as early as April.

"In my opinion, there is sufficient momentum evidenced by the economic data to justify a further step at one of the coming meetings, possibly as early as the meeting scheduled for end of April," Lockhart said in a speech to a business group in Savannah, Georgia.

He said that the Federal Open Market Committee's decision to keep the interest rate target unchanged last week was sensible.

"Short of some big shock that turns consumer psychology on its head, I see no reason why consumer spending growth should not continue. I think the conditions supporting this engine of economic momentum are likely to hold steady," Lockhart said.

Lockhart became the second top U.S. central banker after San Francisco Fed President John Williams who have commented about the possibility of an April rate hike.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT