Comments from the Fed's Lockhart:
- Sees possible advantages in waiting for stronger data that would allow a steadier and more predictable path back toward normal interest rate levels
- Says may take time for data to show obvious progress toward Fed's inflation goal, could support interest rate increase as long as there is confidence of eventual improvement
- Does not see US economy faltering, expects growth of as much as 3% and higher inflation by year's end
- Full speech (titled To Liftoff and Beyond)
Lockhart is a good barometer for the core of the Fed. In his last few appearances he's been talking about a June-Sept window but there's no mention of that here.
Update: Says can't ignore the slowing in China's economy.
