Fed’s Lockhart advocates ‘wait and watch’ approach to asset purchases

dennis-lockhart

Quantitative easing can continue until late 2013 or early 2014 without damaging the economy, even though this would add around $1 trillion to the Federal Reserve's balance sheet, according to Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta.

In a speech on April 2 at the Kiwanis Club of Birmingham, Alabama, Lockhart said he saw "encouraging developments" in the economy, as he expected growth to come in "a bit north" of 2% in 2013, and unemployment recently fell to 7.7%

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