FOMC member says 3% growth would prompt fed funds rate 'lift-off'
Atlanta Fed's Lockhart says this is likely to happen in 2015
Sustained GDP growth of around 3% would likely justify a "gradual lift-off" in the federal funds rate, most likely in the latter half of 2015, Federal Reserve Bank of Atlanta president Dennis Lockhart said yesterday during a speech in Miami, Florida.
Lockhart, a member of the Federal Open Market Committee (FOMC), said that with the Fed's asset purchases tapering "predictably", the focus had moved to the question of when the FOMC will begin the process of "lift-off" of the fed funds rate.
Describ
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