While many hoped that Lockhart would play good cop to Yellen's bad cop, he didn't:
- *LOCKHART SAYS MARKET'S VIEW FOR SEPTEMBER HIKE 'REASONABLE'
Which has sent stocks reeling back to the levels pre-payrolls in April.
The Dow is also in the red from pre-Payrolls (with Nasdaq holding on to gains for now)
Lockhart had more to say...
- *LOCKHART SEES REAL ESTATE, STOCK MARKETS SUPPORTING CONSUMPTION (umm ok)
- *LOCKHART: NOT `INTENSELY CONCERNED' ABOUT STOCK VALUATIONS (jusdt 'concerned' then?)
- *LOCKHART: WE HAVE NOT SEEN DETERIORATION IN CORE NUMBERS (yes we have!)