Dennis P. Lockhart, 1971 SAIS graduate and current President and CEO of the Federal Reserve Bank of Atlanta, came to speak at SAIS today. Lockhart’s talk focused on the methodology of the Federal Reserve and the FOMC Committee and aspects of the economy that he constantly thinks about. He began by addressing GDP growth, unemployment and inflation. Lockhart posed the question of whether the US is on a 2% or 3% growth track, and how this 1% change could support low and stable prices in addition to inching towards maximum employment. He then spoke about the Fed’s relationship with other countries and reserve banks, stating that they are in communication, but almost never consider the effect of their policies on other economies. In regards to the looming end of Quantitative Easing, Lockhart ended the conversation with suggesting that he believe interest rates will hike around the middle of 2015.
The International Finance Club was pleased to host such a distinguished speaker, particularly since Lockhart came to talk to students at SAIS straight from the FOMC Committee meeting in Washington DC.