The current monetary policy stance works, but as the economic recovery continues, adjustments may be needed, according to Federal Reserve Bank of Atlanta president Dennis Lockhart, which he said  could include “further policy accommodation.”

“We may find, as economic circumstances evolve, that policy adjustments are required. In more adverse scenarios, further policy accommodation might be called for,” he told the Greater Lafayette Chamber of Commerce, according to prepared text of his speech released by the Fed. “But as of today, I am comfortable with the current stance of policy, especially considering the tensions policy must navigate between the short and long term and between recovery and the need for longer-term structural adjustments.”

Based on the weakness in the economy and concerns about the slow pace of the recovery, Lockhart said, “I don’t think any policy option can be ruled out at the moment.”

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