Lockhart still expects rate hike this year

Federal Reserve

The Federal Reserve is still on track to raise interest rates this year according to one voting member of the Federal Open Market Committee (FOMC), but market expectations of a September hike have dropped in the wake of emerging market volatility.

Comments by Federal Reserve Bank of Atlanta president Dennis Lockhart were watched closely yesterday (August 24) for any hint on how the FOMC might react to the drop in Chinese stocks over the past week.

Lockhart told an audience in California he still

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