Fed's Lockhart says Fed statement likely to change in October as bond-buying ends

Atlanta Federal Reserve President Dennis Lockhart said on Thursday that the Fed's main policy statement will almost certainly shift in October as its bond-buying program winds down. The current statement says the Fed will wait "a considerable time" after the end of its bond-buying program before raising interest rates. The end of the bond-buying program means that phrase will have to change, Lockhart said, though the committee may just drop the reference to the asset purchases and keep the rest of the language. With the softening economy, Lockhart, for one, said he thinks "considerable time" should remain.

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