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Fed's Lockhart: QE3 Possible Growth Will Not Happen While Looks Weak |
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Friday, 10 June 2011 10:26 |
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 The U.S. economy looks increasingly weak and little can be done to improve the work of the Federal Reserve, Atlanta Federal Reserve President Dennis Lockhart said on Thursday.
Speaking in his office in Atlanta, Lockhart said he had recently revised its economic growth forecast this year with a disappointing performance considerations in the first half.
However, he said conditions are very different now than when the Fed launched a second round of purchases of bonds, the quantitative easing program designed to stimulate the economy, known as the QE2.
"I think QE3 will not be needed," said Lockhart told Reuters in an interview. "I think we will see modest growth, a moderate who does not require any further stimulus."
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