Fed Lockhart: Further rate increases will be justified by economic performance in 2016

FXStreet (Córdoba) - Atlanta Fed President Dennis Lockhart said on Monday that inflation will be key to pace of further Fed rate hikes and he needs 'hard evidence' that 2% target will be achieved.

Lockhart also said he forecasts US growth between 2.0%-2.5% this year and the US economy could accelerate if global conditions and oil markets improve.

Regarding the path of rates, he expects rate increases will be justified by economic performance in 2016 and added that "there is no predetermined schedule of increases, no preset path of policy. No map. Monetary policy is not on autopilot. Decisions will be data-dependent."

Lockhart believes overseas worries and market turmoil will unlikely hurt US economy.