Lockhart: A Story of Economic Progress

From frbatlanta.org

• Atlanta Fed President and CEO Dennis Lockhart, in an August 10, 2015, speech to the Atlanta Press Club, discusses the economic progress achieved since the Great Recession and the anticipated FOMC decision to move the federal funds rate off zero. • Lockhart says that from its peak of 10 percent, the rate of unemployment has fallen to 5.3 percent. However, the average rate of inflation over the six-plus years of recovery has been 1 1/2 percent. He expects to see convincing evidence emerge that inflation is rising to a safer level and approaching the FOMC's 2 percent target. • Lockhart reiterates that the ... (full story)