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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 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.

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