Any decision on cutting the Fed's asset purchases will be based on economic data, Atlanta Federal Reserve Bank President and CEO Dennis Lockhart said Tuesday, warning of the "potential for ambiguous or disappointing data."

While investors and the public are preoccupied with what the Fed is going to do, Lockhart told the Kiwanis Club of Atlanta "up to now, the uneven performance of the economy has not permitted the FOMC to provide this certainty."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.