Fed’s Lockhart:December meeting may be historic

Atlanta Fed President

• Supports view that inflation is transitory
• Moderate pace of growth should be sustainable.
• US economy closing in on full employment.
• Criterion of job market improvement has been met.
• Gross domestic income signals solid economic growth.
• Liftoff compelling unless data shift drastically

Lockhart seems locked and loaded for a December rate hike.

Back on November 18th, Lockhart was a touch less sure.  Although he commented that the job market was undeniably improved and that it met it’s criteria, he also commented that he needed to see more data to evaluate before liftoff.  He also added:

• US economy unreasonably solid trajectory, though there are weak spots
• On balance recent data has been encouraging
• data show economy growing at moderate pace.
• Some aspects of economy are weaker than year ago.
• Says he won’t predict outcome of December FOMC meeting

So things are better from that time (or at least he got rid of some of the negative.