STONE MOUNTAIN, Ga. — Federal Reserve Bank of Atlanta president Dennis Lockhart said Wednesday he is not leaning toward supporting monetary tightening.

Lockhart, speaking to reporters on the sidelines of the Atlanta Fed’s annual financial markets conference, said he will be watching both inflation indicators and the pace of economic growth to judge when he thinks it is time to tighten, but said that as of now he does not see a need to change monetary policy.

Inflation has risen, but that was what the Fed had hoped to see, he said, adding that he expects it to “level off.” He said he will be keeping a close eye on inflation expectations.

He also did not see a “compelling” reason not to complete the $600 billion of planned long-term Treasury purchases through the end of June.

Lockhart told reporters that too much has been made of “discord” among Federal Open Market Committee members and said there is fundamental agreement on policy goals.

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.