•  Lockhart’s baseline outlook for 2015 and 2016 assumes growth at around 3 percent per annum. •  In Lockhart’s view, this outlook, combined with the improvement of economic conditions to date, indicates the economy is on a path to a satisfactory and desirable state of health.
•  Lockhart says that the weakness of inflation and wages is a concern, and that firming of inflation readings will give him confidence that the outlook on which monetary policy decisions will swing remains realistic.