Federal Reserve officials are discussing the future of their vow to hold interest rates low for a "considerable time," ahead of a meeting next week where they will weigh that pledge against signs of economic strength.
Federal Reserve Bank of Atlanta President Dennis Lockhart, foreshadowing a debate for the Federal Open Market Committee (FOMC) on Dec. 16 to 17, said yesterday there were dangers in dropping the U.S. central bank's commitment, even after good news on job creation.
"I am not in a rush to drop the 'considerable time' phrase if it would in any way convey an imminent liftoff decision," he told reporters after a speech in Atlanta in which he highlighted the perils of raising rates too soon. "I am comfortable with continuing with that language."
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