Fed's Lockhart Sees 'compelling' Case For December Interest Rate Hike

The case for a December increase in interest rates is "compelling," said Atlanta Fed President Dennis Lockhart, on Wednesday. In a speech in Fort Lauderdale, Lockhart said he thinks the economy will sustain a moderate pace of growth in coming quarters. He said the U.S. central bank's condition for a rate hike of further improvement in the labor market has been met. The Atlanta Fed president also said that factors holding down inflation are "transitory." Lockhart is a voting member of the Fed policy committee this year and is a centrist on the committee.