‘Not overly concerned’ about Q1 data, eyes this Friday’s NFP – Fed’s Lockhart

FXStreet (MU) - With a major shift in monetary policy around the corner, economic data "must be intensely watched and carefully interpreted," the President of the Atlanta Fed Dennis Lockhart told an audience in Baton Rouge, Louisiana.

"I'm not overly concerned," Lockhart said about the first quarter data, pointing out its preliminary nature.

He added, "a variety of transitory or non-persistent factors" had to do with the fact that the economy once again tumbled in the first quarter.

"With a resumption of stronger growth, I expect to see further progress toward full employment and movement higher toward a healthier rate of inflation around 2%.
These are the FOMC's ultimate policy objectives. Growth is the vehicle for achieving these objectives."

Lockhart said he "will be looking this Friday to see if job gains resume the robust monthly increases we saw prior to March."