Embarrassing... Fed's Lockhart Completely Changes His Tune In Just 34 Days

Takeaway: A month ago, Atlanta Fed head Dennis Lockhart said a June rate was "a real option." Now, he wants the Fed to "be patient."

Embarrassing... Fed's Lockhart Completely Changes His Tune In Just 34 Days - Fed grasping cartoon 01.14.2015

“I don’t personally see a lot of cost to being patient to the July meeting at least,” Atlanta Fed head Dennis Lockhart said today. “I think we can be watchful and see how things develop over the next few weeks.”

What a difference a month can make. 

Way, way back on May 3, 2016 (a.k.a. a month ago), Lockhart called a June rate hike "a real option."

Embarrassing... Fed's Lockhart Completely Changes His Tune In Just 34 Days - lock

Bottom Line?

These Fed head guys and gals are getting really silly.