Atlanta Fed president wants to ‘let the picture clarify’
Dennis Lockhart likens the UK’s vote to leave the EU to a storm that has “clouded the economic waters”
Federal Reserve Bank of Atlanta president Dennis Lockhart has advocated a "cautious and patient approach to policy" in the US in the immediate wake of the UK's vote to leave the EU.
"Brexit amounts to a storm that has clouded the economic waters," he said on July 14. "For the very near term, I see little choice but to exercise some patience and let the picture clarify."
He noted the functioning of financial markets has been "generally quite orderly" since the referendum on June 23, and suggested
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