Fed’s Lockhart Says He Doesn’t Want More Asset Purchases Now

Federal Reserve Bank of Atlanta President Dennis Lockhart said he doesn’t favor more central bank asset purchases to stimulate growth with the U.S. economy picking up.

“We should hold the balance sheet where it is for the time being and watch how the economy evolves” and “whether the transmission mechanism for monetary policy becomes more efficient,” Lockhart said in a talk today at Georgetown University in Washington. “That transmission mechanism isn’t working as efficiently as it can and therefore I have reservations about more accommodation.”

To contact the reporters on this story: Steve Matthews in Atlanta at smatthews@bloomberg.net;

Jeff Kearns in Washington at jkearns3@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz in Washington at cwellisz@bloomberg.net