FOMC's Lockhart expects rate hike in second half of 2015


Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, said during a speech in Dubai yesterday that he expects the Fed to completely phase out its asset purchase programme this year, and to start to raise interest rates in the latter half of 2015.

The Federal Open Market Committee (FOMC) member said his official forecast "calls for growth accelerating starting this quarter to an annualised run rate around 3%", but added that it "may not be clear for several months, or even quarters

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