March 1, 2012 / 7:16 PM / 6 years ago

Fed's Lockhart:Uncertainty remains drag on US economy

ATLANTA, March 1 (Reuters) - As uncertainty continues to be an economic drag, a move toward deflation could be one factor that signals further quantitative easing would be needed, Atlanta Federal Reserve President Dennis Lockhart said on Thursday.

“The onset of recessionary conditions and movement in the direction of deflation would certainly be a set of conditions in which I think we’d have to consider further balance-sheet kind of stimulus,” Lockhart said after speaking to a banking industry outlook conference at the Atlanta Fed.

Lockhart also said he felt that job creation at a pace of 150,000 to 200,000 a month was needed to restore “a broader sense of health in the employment market.” He added that level has been seen in recent months.

He stressed that a “high degree of underemployment” in the economy also needed to be addressed to continue to make progress.

Reporting by Karen Jacobs; Editing by Chizu Nomiyama

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