Lockhart sounds a dovish note

|By:, SA News Editor

Atlanta Fed chief Dennis Lockhart tries to walk back Janet Yellen's "six-months" comment on rate hikes (putting the first boost in H1 of 2015), saying that time frame is a minimum and suggesting rates won't move higher until the second half of next year.

"I think it's going to be longer than that indication ... We’re not going to flip a switch from easy money to tight money. We’re not going to flip a switch where overnight you go from one environment to a radically different environment. I don’t see that happening."

Separately, St. Louis' Jim Bullard says the FOMC hasn't talked about or committed to a specific month to end QE. “This is not a calendar-based policy - it’s a data-based policy."

ETFs: SHY, BIL, SHV, VGSH, SCHO, DTUL, SST, DTUS, TUZ