“I am reasonably confident this can be done in an orderly fashion” Lockhart said in regard to the central bank selling assets to build their stability.
The former chairman Ben S. Bernanke implemented an extraordinary stimulus to combat the dramatic economic downturn, and it has slowly been taking effect. The effects of this were seen last month, when The Fed announced they have cut their monthly bond purchases from $75 billion to $65 billion. Last week his new successor, Janet Yellen, was sworn in.
“The public feels more confident about 2014, even with the mixed data we take in every day. I think there is good reason for that”, Lockhart stated in Birmingham, Alabama whilst answering questions after his speech at the Rotary Club of Birmingham.
Lockhart’s district includes Alabama, Georgia and Florida as well as parts of Tennessee, Mississippi and Alabama. He is a former Georgetown University Professor and has led the Atlanta Fed since 2007. He does not have a vote on the Federal Open Market Committee this year.