ATLANTA — Atlanta Federal Reserve Bank President Dennis Lockhart said Tuesday he wouldn't advise a decision that commits the Fed to "a full phase-out of asset purchases" when it meets in September, stressing the need for more data.

Before the September meeting Federal Open Market Committee, there will be one more employment report, two inflation reports and a second-quarter GDP revision. "I don't expect to have enough data to be sure of my outlook," he said in a speech to the Kiwanis Club in Atlanta. "For that reason, I don't think a decision that commits the Fed to a full phase-out of asset purchases and lays out a precise, beginning-to-end path for doing so would be advisable."

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