Atlanta Fed chief Dennis Lockhart
- Sees US GDP near 2% over next three years
- Economy well positioned for moderate growth
- Didn't factor fiscal policy into his forecast
- Unclear economy positioned for markedly higher growth
- Sees rising inflation moving to 2% in 2017 or 2018
- It's time for the Fed to shift to more of a background role
- Population aging will weigh on growth unless it can be counteracted with improved productivity and investment
- Cyclical rebound from crisis 'largely done'
Lockhart generally steers close to the core of the FOMC although he had a few hawkish missteps in the past year. At the moment, there is a seemingly-universal consensus at the Fed to hike 2-4 times in 2017. We'll have to see how that develops as the data rolls in but right now there isn't much difference in comments from hawks or doves.
Lockhart is retiring at the end of February so comments from his successor (who isn't announced yet), will soon be the ones to watch.
