Dennis Lockhart said Wednesday the next Federal Reserve meeting could be "historic."
"I say 'historic' because I expect the Committee to consider, as it has in recent meetings, the first increase in the policy interest rate in nearly 10 years. And it's been seven years since the federal funds rate was first set at effectively zero," the Atlanta Fed president said in a speech.
Lockhart is also a voting member on the Fed's policy-making committee.
The Fed's policymaking committee is slated to meet Dec. 15 and Dec. 16. He also said that, barring any drastic changes in economic data, the case for a liftoff in two weeks is "compelling."