Fed hasn’t decided exit strategy yet: Lockhart

The Wall Street Journal

The Federal Reserve hasn’t decided on an exit strategy from ultra low interest rates and its $600 billion bond buying program, Atlanta Fed President Dennis Lockhart said Sunday, according to a transcript of his remarks. "Some of my colleagues have already begun to weigh in on the details of exit. I will not do so today, but I think it would be a mistake to assume that these public conversations on exit are much more than an open discussion of the options the central bank should consider," he said.

The Fed will communicate an exit strategy once it’s clear the economic rebound is secure. "Once the expansion becomes more clearly sustainable, it will be appropriate to begin the process of normalization of interest rate policy and the Fed’s balance sheet. The exact timing remains to be determined by the FOMC. I am confident that the committee will provide guidance when we have enough certainty that the guidance will provide more signal than noise to financial markets and the public," he said.

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