CNBC Exclusive: CNBC Excerpts: Federal Reserve Bank of Atlanta President Dennis Lockhart Speaks with CNBC's Steve Liesman Today on "Squawk Box"

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 and

All references must be sourced to CNBC.


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.


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.


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.


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.


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.

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