Fed's Lockhart says gradual could be at every other meeting

FXStreet (Córdoba) - Atlanta Fed President Dennis Lockhart said that in his eyes a gradual pace of tightening means at every other meeting.

"Moving up gradually means not at every meeting, in all likelihood," Lockhart said in a radio interview in Atlanta. "The rate of rising interest rates will be more like every other meeting."

Among other remarks Lockhart said that the Fed will remain gradual but will still focus on data. "It is going to depend on how the economy actually performs".

The Federal Reserve raised rates for first time since 2006 last week, and pledged tightening will be “gradual”. The Federal Open Market Committee has eight meeting scheduled for 2016. Lockhart voted in favor of a rate hike last week but he will not be a voter next year.