Atlanta Fed President Dennis Lockhart spoke about the state of the economy yesterday in Alabama. Commenting his decision to vote in favor of leaving rates on hold, he said that he didn’t want to hike in September to avoid the period of high volatility. He thought that liftoff at that moment could result in increased volatility.
Nevertheless, he still feels that monetary authorities are very close to raising rates as the right time is coming. He indicated that hike “sometime this year” should be the right moment to take the step.
Lockhart is set to speak yet again today in Columbus, Georgia at 5:30pm (GMT+0). He is supposed to address economy issues.