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Lockhart Explains How He Became Fed’s ‘Bellwether’
Bob Dylan may have sung “you don’t need a weatherman to know which way the wind blows,” but it’s a good thing the Federal Reserve has Dennis Lockhart. Fed watchers routinely describe the Atlanta Fed president as the central bank’s “bellwether.” While Fed hawks and doves may offer conflicting views about the future of interest rates, Mr. Lockhart cuts through the noise and provides a reliable account of the most likely path for Fed policy. At an event in Detroit Thursday, Mr. Lockhart explained why he thinks he occupies his current perch. As he sees it, the key difference is that in an institution ... (full story)