Lockhart Urges ‘Patience’ in Fed Policy Amid Modest U.S. Growth

Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank should take its time in withdrawing economic stimulus amid moderate growth and a quickening of inflation that will probably prove temporary.

“My view of the future permits a degree of patience as regards monetary policy,” Lockhart said today in the text of a speech in Knoxville, Tennessee. “There is still a halting and fragile quality to the economy. I think the process of restoration of full economic strength with higher employment continues to require support.”