More from Lockhart:
- Fed wants to avoid a repeat of the taper tantrum
- Fed must be adept at communicating following liftoff
- Good to have reasonable FOMC consensus around policy
- Some level of FOMC dissent wouldn't be problematic
For me the important Fed comment over the past 24 hours was Brainard, who was dovish. She said a delayed liftoff and shallower rate hike path needed to offset impact of stronger dollar on US jobs. She added that there is still some room to go in terms of labor market slack.
I'm surprised they haven't got more attention. Fed Governors don't speak much but they're the voting block that matters, not the regional presidents on the outskirts of influence.