Fed president says growth hazy

Regional Federal Reserve president Dennis Lockhart, who will be one of the central bank’s voting policymakers next year, expects that interest rates will rise in the second half of 2015. However, Lockhart added: “It may not be clear for several months, or even quarters, whether the US economy is undeniably on a stronger and sustained growth path around a run rate of three per cent,” due to the collapse of growth in the first quarter.