What kind of central banker gives a speech at 3:45 on a Friday afternoon? Dude, seriously…

  • QE will “likely be justified for some time”
  • Aggressive easing needed to revive jobs
  • Employment to improve only gradually
  • Inflation will likely stay close to 2% target
  • There is tension between monetary and fiscal policies

Lockhart is a relative moderate on the FOMC so these are very dovish (ie dollar bearish) remarks.