Low inflation in the U.S., Europe and Japan is a "ongoing concern," Atlanta Federal Reserve President Dennis Lockhart told CNBC, but added that current monetary policies were on target.
Speaking in Dubai on Sunday, Lockhart said the Fed's current tapering of asset purchases, plus a potential lift-off in rates in the second half of 2015, was the most appropriate policy mix.
"Too low inflation in the U.S., and I would say also in Europe, and for that matter to some degree in Japan, is an ongoing concern," Lockhart said in an exclusive interview with CNBC.
The latest data points hinted at a "firming up" of inflation towards the Fed's 2-percent target, he said, adding: "Whether or not it will hold, whether it's sustainable, is another question."
Lockhart, who currently holds a non-voting seat on the Fed's Federal Open Market Committee (FOMC), said its $10 billion step-downs in asset purchases looked set to continue.