Heart to Heart: An Economic Outlook and Federal Reserve Policy: Lockhart

This is the interpretation of Dennis P. Lockhart, one of the members voting on the board at FOMC, about the 2014 guidance:

The Fed´s policy rate will likely stay at rock bottom al least through 2014 if the economic story goes as projected. If it doesn´t, the time horizon could change.

...the recent economic news has been encouraging, but in my view we haven’t seen enough sustained improvement to be sure it will last. I think the current policy stance is appropriate for an outlook of steady, moderate growth with gradual employment gains. I do not see this accommodative policy compromising the objective of 2 percent inflation.