Lockhart admits Fed timescale for raising rates could change

dennis-lockhart

Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, on February 14 said the Federal Open Market Committee's communication to keep interest rates low until late-2014 was conditional on economic conditions in the US.

Speaking at the New College of Florida in Sarasota, Florida, Lockhart said: "It's based on a best estimate of the path the economy is on. It is not a commitment to maintain a near-zero federal funds rate without consideration of how conditions on the ground are evolving

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