WASHINGTON (MarketWatch) – There is nothing “fundamentally wrong” with the broad U.S. economy despite the “bearish” global stock environment, said Atlanta Fed President Dennis Lockhart, on Monday. In a speech in Atlanta, Lockhart said the global selloff in stocks begs the question of whether there are serious imbalances that make the broad economy vulnerable to foreign shocks. “I don’t see that kind of connection in current circumstances,” Lockhart said. The Atlanta Fed president said while fourth-quarter GDP growth “could look rather weak” and “disappointing,” he expects moderate growth and labor market improvement this year that will justify more interest-rate increases. Lockhart, who is not a voting member of the Fed policy committee, did not specify his view of the pace of tightening, saying there is “no map” and “no predetermined schedule of increases.”
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