The Atlanta Federal Reserve bank President Dennis Lockhart said on Wednesday that he thinks the interest rate hike in the middle of the year will be appropriate. But interest rates could be hiked at each monetary policy meeting, he added.
Lockhart wants to be sure that the weak economic growth in the first quarter was temporary before raising interest rates. He noted that higher consumer spending is needed for the solid economic growth.
The Atlanta Federal Reserve bank president pointed out that the April labour market data will be very important to gauge economic momentum in the second quarter.
Lockhart is a voting member of the Federal Open Market Committee this year.