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Highlights From Lockhart's Speech

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Atlanta Federal Reserve President Dennis Lockhart is out making some comments about the economy, and he is pretty comfortable with how the Federal Reserve is acting, in light of recent comments from some Fed officials.

Lockhart has revised down his personal GDP projections for 2011, and 2012, but he still sees pockets of strength in the economy.

Lockhard said that total debt relative to U.S. GDP should has not changed much, while household savings have risen approximately. The U.S. savings rate is now up to 5%. He also went on to say that he is "comfortable with current stance of policy." Yesterday, Chicago Fed President Charles Evans essentially laid out a case for an additional round of quantitative easing. However, he did go on to say that policy adjustments would be required as the economic circumstances evolve.

He said that "business investment is growing," and he does not expect a recession.

 

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Posted-In: Atlanta Federal Reserve Dennis LockhartMovers & Shakers Economics