News Headline Summary

Fed's Lockhart says QE will probably be justified for some time

Says:
- Predicts GDP growth modestly above 2%
- Aggressive easing needed to revive jobs
- Employment to improve only gradually
- Inflation will probably stay close to 2% target
- Sees tension between monetary and fiscal policies

Update details:

- Fed's Lockhart is a voter on the FOMC and is known for his dovish stance so these comments in-fitting with his poisiton in the Fed.

Reaction details:

- No movement across asset classes as Lockhart has offered no new insight into Fed monetary polcy decisions.

Print 20:40, 16 Nov 2012 - Fed - Source: Newswires