Atlanta Fed president sees dangers in chasing vague labour market target


Dennis Lockhart, president and CEO of the Federal Reserve Bank of Atlanta, yesterday gave a speech in Knoxville, Tennessee, warning that the Federal Reserve's policy of continuing quantitative easing until it achieves "substantial improvement in the outlook for labour markets" risks incurring unforeseen costs in the pursuit of an aim that is difficult to define.

The speech draws on research by staff at the Atlanta Fed, which finds that leading indicators in the nation's labour markets are

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