Fed Officials Forecast Rate Increase

December 3rd, 2015

 

During remarks delivered today, Federal Reserve Bank of Atlanta President Dennis Lockhart suggested that the likelihood of an interest rate increase this month was high. The next meeting of the Federal Reserve’s Federal Open Market Committee (FOMC) is in two weeks on December 15-16, 2015.

Lockhart commented, “the economy is growing at a solid pace in spite of ongoing headwinds coming from the global conditions and the strong dollar.” He also pointed to “solid job gains and rising household incomes,” suggesting that absent “drastic changes to the economic picture” over the next two weeks the case for a rate increase is “compelling.”  Federal Reserve Chair Yellen is expected to deliver remarks later today and will also likely address the upcoming FOMC meeting.

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