Atlanta Fed's Lockhart Shows His Easy Money Whore Stripes
He'll be an easy money whore for an extended period of time.
The U.S. economy will recover slowly and the unemployment rate will take some time to come down, Atlanta Federal Reserve Bank President Dennis Lockhart said on Wednesday.
This should keep inflation at bay for the foreseeable future, and allow the central bank to keep interest rates on hold for some time, he said.
"I fully support the message of the most recent (policy) statement to the effect that the fed funds target rate will remain exceptionally low for an extended period," Lockhart said in remarks to the Harvard Club.
How else can we get banks to sink all that cheap cash into Treasurys? Tramp.