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The Fed: Fed’s Lockhart open to ‘at least one’ rate hike this year

Bloomberg

Atlanta Fed President Dennis Lockhart

WASHINGTON (MarketWatch)— Atlanta Fed President Dennis Lockhart said he has confidence in the outlook for the U.S. economy and, as a result, wouldn’t rule out “at least one” interest rate hike this year.

“Early indications of third-quarter GDP growth suggest a rebound. I don’t believe momentum has stalled,” despite the weak headline for second-quarter growth, Lockhart said in a speech to the Rotary Club of Knoxville, Tenn., on Tuesday.

“I, as one Fed policy maker, am not prepared to rule out at least one rate hike before year’s end,” he said.

The Atlanta Fed president isn’t a voting member of the Fed’s policy committee this year.

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