FED EASING SET TO CONTINUE: LOCKHART

UNEMPLOYMENT in the US is “nowhere near acceptable levels,” a senior Federal Reserve policy-maker said last night. “Accommodative Fed policy is still required,” said Dennis Lockhart CEO of the Federal Reserve Bank in Atlanta, suggesting that the Fed’s $600bn (£375bn) asset-purchasing scheme (QE2) will continue, along with historically low interest rates. Joblessness in the US is currently at 9.4 per cent, despite the economic recovery.