The Federal Reserve could hike interest rates as early as next month, Atlanta Federal Reserve President Dennis Lockhart said Monday.
The Federal Open Market Committee's "patient approach" in keeping its interest rate target unchanged last week made sense, he said in prepared remarks for the Rotary Club of Savannah. The FOMC next meets on April 26 and 27.
Lockhart, who does not vote on the committee, said he expects continued job market improvement this year. He said he is optimistic the Fed's 2 percent inflation target is possible in the medium-term.
Earlier on Monday, Richmond Fed President Jeffrey Lacker took a similar tone on inflation, saying it will likely accelerate in coming years and move toward the Fed's target.