Federal Reserve Bank of Atlanta President Dennis Lockhart was the latest U.S. central banker to hint at the possibility of more quantitative easing (QE).
In a speech at the Greater Lafayette Chamber of Commerce in Louisiana, Lockhart stated that “Given the weak data we’ve seen recently and considering the rising concern about chronic slow growth or worse, I don’t think any policy option can be ruled out at the moment. However, it is important that monetary policy not be seen as a panacea.”
The Atlanta Fed President went on to say that “We may find, as economic circumstances evolve, that policy adjustments are required. In more adverse scenarios, further policy accommodation might be called for.”
While he also noted that “as of today, I am comfortable with the current stance of policy, especially considering the tensions policy must navigate between the short term and longer structural adjustments,” he later said during the Q&A session following his speech that “slower growth is now a bigger problem than inflation.”
Lockhart’s comments came just one day after Chicago Fed President Charles Evans told CNBC that in regards to monetary policy, he “would favor more accommodation.”
The full text of Lockhart’s speech is available at the Atlanta Fed’s website:
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