(Updates with comment in the fourth paragraph).
April 6 (Bloomberg)--Federal Reserve Bank of Atlanta President Dennis Lockhart said he does not expect the Central Bank to tighten us monetary policy at the end of the year with inflation remains weak and fragile economic recovery. "I would not rule that it out entirely, but at this stage, that I am personally not bent in the direction of thinking that is absolutely necessary," Lockhart told journalists during a Conference Atlanta Fed at Stone Mountain, Georgia.Fed decision makers at a meeting last month different whether first remove the record in 2011 "stimulusAccording to the minutes of their meeting on 15 March, published yesterday. "Some participants indicated that economic conditions could justify a move to an accommodative monetary policy than this year." others noted that political exceptional accommodation could be appropriate beyond 2011, "according to the minutes.""The rest of this year in the order of things is long enough," Lockhart told journalists. "You need to remain flexible enough, and the recent history of the events of macro has reinforced this point of view with the Japan and the developments in the Middle East."Lockhart said that it supports plans by the Fed to complete as scheduled at 600 billion to the Treasury purchases at the end of June. The Federal open market Committee reiterated last month that the Central Bank to complete the purchases, saying that the economic recovery United States is a more solid basis. "" "Very compelling reasons"I do not reverse this commitment or modify this commitment without some very compelling reasons to do so", said Lockhart. "I do not see these existing conditions at the time." My outlook also provides such a rapid change in conditions that a policy change is necessary at this time. "Since the March FOMC meeting, reports showed the labour market and inflation resumed while the consumer confidence slipped and sales dropped to a record low. "Some regional Fed Presidents who were skeptical of stimulus have spoken of the need to tighten credit, and s. Ben Bernanke, Chairman has yet to indicate its preference for the next stage of the Fed.Je think the economy is still satisfy under some uncertainties, and that always creates a degree of fragility in the evolution of this recovery.", said Lockhart .l ' recent increase in inflation should be considered in the light of the fact that the FOMC wanted inflation to accelerate last year, when was slowing down the pace in the rising prices and deflation appeared to be a growing threatLockhart said. "It was something we were looking to occur and, in fact, he has produced,"he says. "A little Below'Core inflation, which excludes food and energy prices is"still a little below what I think is the informal target which is the consensus of the Committee of around 2 %". The rate of inflation, including food and energy is rising due to an increase in the price of raw materials, Lockhart said, adding he hoped that these price "level out".Inflation expectations, while increasing in the short term are likely to be more stable in the long term, he said.In versions since the meeting of the Fed, the Commerce Department reported that prices far preferred the fed, which excludes food and fuel, was up 0.9% one year earlier in Februarythe most since October. Including all the elements, prices rose 1.6%, compared to an increase in 12 months of 1.2% through January, the largest monthly increase since December 2009.Lockhart, 64, a former Professor at the University of Georgetown, led the Atlanta Fed since 2007. Fed Presidents rotate on the monetary policy of voting with Lockhart next vote in 2012.-Publishers: James Tyson, Kevin Costelloe
To contact the reporters on this story: Steve Matthews at West Palm Beach, Florida, smatthews@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz to the cwellisz@bloomberg.net
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