Fed must "respond pragmatically" to poorer outlook

Policymakers must be prepared to respond pragmatically to a recent bout of worse-than-expected data on the United States economy, said Dennis Lockhart, the president of the Atlanta Federal Reserve and a non-voting member of the Federal Open Market Committee.

Speaking on Thursday, Lockhart said: "In my view, pragmatism in the face of growing weakness in the general economy may very well require additional moves to lower the federal funds rate."

"As a policymaker, I feel acutely the tension between

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