Lockhart admits Fed timescale for raising rates could change


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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