Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, echoed the economy-boosting comments of his boss, Ben Bernanke. Bernanke, chairman of the Federal Reserve, said the central bank will try to fight low inflation and high unemployment.
Lockhart held a “fireside chat” with Home Depot CFO Carol TomeFriday morning at the Grand Hyatt hotel in Buckhead. The conference was sponsored by the Executive Women of Goizueta, the business school of Emory University.
Excerpts of Lockheed’s comments:
On economic growth: "I expect the fourth quarter to be a little better than third quarter and I expect 2011 to be better than fourth quarter. The economy is growing but at too slow a pace."
On inflation: "At the moment, inflation is running too low. It is too close to the tipping point to a deflationary environment. I am concerned. I think my colleagues share that."
On employment: "I have heard a very strongly argued view that the natural rate of unemployment in our country may have risen, but it is certainly not 9.6 percent."
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