Fed's Lockhart Says Rate Hike Could Be Appropriate In October

A rate hike in October or December is still "likely appropriate" as the economy is on a satisfactory track, said Dennis Lockhart, the president of the Atlanta Fed, on Friday. In a speech in New York, Lockhart said there is "a touch more downside risk" in the current environment than a few weeks ago. But he said he was not going to let one piece of data overly influence his outlook. Many economists think the weak September job report rules out a Fed hike this year. Lockhart is a voting member of the Fed policy committee this year and is often a bellwether on the thinking of the moderate center at the U.S. central bank.