WHEN: Today, Thursday, March 26th
WHERE: CNBC's "Squawk Box"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Federal Reserve Bank of Atlanta President Dennis Lockhart on CNBC's "Squawk Box" (M-F, 6AM-9AM ET) today. Following are links to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000365331 and http://video.cnbc.com/gallery/?video=3000365330.
All references must be sourced to CNBC.
LOCKHART ON BEING ON A SOLID TRACK
I think we're still on a solid track. However, the economy is throwing off some mixed signals at the moment and I think that's going to be passing or transitory. But the first quarter looks very soft.
LOCKHART ON THE DOLLAR
Clearly it has effect on prices so we're seeing imported goods influenced by a strong dollar. Also net exports, which is an important component of GDP, obviously influenced. I think some of the manufacturing order numbers may reflect export influence so the dollar is a factor and has the potential of being a slight drag on the economy.
LOCKHART ON INFLUENCE OF THE DOLLAR
In the beginning when the dollar declined I was prepared to, to some extent, dismiss the influence of the dollar as being not great because our economy is not so export dependent but I'm upgrading it as a factor to watch.
LOCKHART ON RAISING RATES
I have said for quite some time, I see it as mid-year or a little bit later so I think we're coming to a point where we're going to seriously look at a decision to raise rates.
LOCKHART ON MONETARY POLICY
The divergence in monetary policy is a factor that I think is driving the dollar appreciation. So in that sense, we're seeing the dollar strengthen, as I said earlier the strength of the dollar could turn out to have some drag effect. I don't think it's going to be terribly significant, but some dampening effect on the economy. And that is a result of the divergence in policy to some extent.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/mediavillage/networks/cnbc/.