Though he is "cautious" about the need for more monetary action since "we do not yet have enough information to conclude the economy won't resume a healthier pace of growth," Federal Reserve Bank of Atlanta president Dennis Lockhart Monday said the Fed has the tools, if needed, to ease policy.

"Not every economic problem we face has a monetary policy fix," Lockhart told the Rotary Club of Florence, Ala. "That is the reason I have said repeatedly that the hurdle to justify additional monetary policy stimulus should be high. But the events of the last several weeks are a reminder that circumstances can quickly arise that may call for additional monetary actions."

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.