More comments from Lockhart

Comes with a caveat though;

  • Says December will have a lot more data
  • Repeats that little over 100k job gains a month is enough to lower unemployment
  • Markets seem to be misaligned with Fed on liftoff
  • Doesn't think misalignment is too serious
  • The focus is on an orderly process on a hike that would not then be reversed in short order
  • FOMC's data dependant approach is sound with few alternative

The market isn't playing the FOMC guessing game anymore. These are further hawkish comments but they're being ignored. I personally think most of the market is totally out of kilter with their hike forecasts for the US and the UK