Federal Reserve is focused on an initial interest rate hike between the first quarter and the middle of next year, with possible changes in its main policy statement as soon as next month, Atlanta Fed President Dennis Lockhart said on Saturday. "It is reasonable with the improving data to begin to anticipate a change in the basic interest rate policy and, therefore, it is quite a reasonable debate as to whether that ought to be early 2015 or mid-2015 or even later," Lockhart told Reuters in an interview here. Lockhart said he continues to forecast a rate increase in mid-2015, with economic growth hovering around 3 percent, and that he feels it is "still early" to change the central bank’s main policy statement. "Even with good data, and we have had a run of very good data on balance, you still can only draw tentative conclusions," said Lockhart, who does not presently have a vote on the Fed's main policy committee.
Reginald Rounds was among those present at the Federal Reserve's high-flying monetary conference here, enjoying the chance to button hole two top officials of the U.S. He was among a group of activists who gathered on the sidelines of the Fed's annual symposium wearing green t-shirts with "What Recovery?" on the front and a chart depicting sluggish U.S. The coalition, consisting of more than 70 organizations, released an open letter to Fed officials earlier this week urging them to hold off on interest rate hikes until wages were rising more swiftly.
Next week is the last unofficial week of summer, but that doesn’t mean you should let August doldrums get between you and your portfolio. Yahoo Finance’s very own Lauren Lyster, Milanee Kapadia, Michael Santoli and editor-and-chief Aaron Task are here to bring you information on what you should be expecting next week, August 25th through 29th.