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Federal Official Still Looking at 2015 Rate Hike

FILE - Dennis Lockhart, President, Federal Reserve Bank of Atlanta, and Charles Evans (L), President and CEO, Federal Reserve Bank of Chicago, take part in a panel discussion in Beverly Hills, California, May 1, 2012.

A voting member of the Federal Reserve's policy committee says he believes the economy is on a satisfactory track and an increase in interest rates is likely to be appropriate in either October or December.

Dennis Lockhart, president of the Fed's Atlanta regional bank, says the economic data has been giving off mixed signals and there is more ambiguity in the data than there was a few weeks ago.

In remarks prepared for a conference of the Society of American Business Editors and Writers, Lockhart says he will be watching in particular consumer activity in making his decision on whether to raise rates at one of the Fed's two final meetings of 2015.

The Fed has kept its key interest rate at a record low near zero since December 2008.

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