4 Aug 2015
Fed’s Lockhart: Next meeting could be appropriate to rise rates
FXStreet (Córdoba) - Dennis Lockhart, President of the Federal Reserve Bank of Atlanta boosted the US dollar in the currency market after mentioning that September could be “appropriate time” for the liftoff in monetary policy in an interview with the Wall Street Journal.
He added that it will take a significant deterioration in the economic picture for him to be disinclined to move ahead. For him, the economy is ready for the beginning of the normalization process in monetary policy.
The cumulative progress over the last quarters, particularly in the labor market, was among the reasons for Lockhart to consider rising the Fed Funds rates for the first time in years. According to him the economy will continue to pick up during the third and fourth quarter.
On Wednesday the ADP employment report will be release in the US and on Friday the official jobs numbers. Lockhart was not in favor to put too much weight on the new numbers, unless they turn out to be big disappointments. But before the next FOMC meeting that will take place September 16/17, another employment report will be release (August numbers on September 4).
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
He added that it will take a significant deterioration in the economic picture for him to be disinclined to move ahead. For him, the economy is ready for the beginning of the normalization process in monetary policy.
The cumulative progress over the last quarters, particularly in the labor market, was among the reasons for Lockhart to consider rising the Fed Funds rates for the first time in years. According to him the economy will continue to pick up during the third and fourth quarter.
On Wednesday the ADP employment report will be release in the US and on Friday the official jobs numbers. Lockhart was not in favor to put too much weight on the new numbers, unless they turn out to be big disappointments. But before the next FOMC meeting that will take place September 16/17, another employment report will be release (August numbers on September 4).
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!