by Calculated Risk on 5/25/2005 09:53:00 PM

Atlanta Federal Reserve Bank President Jack Guynn hinted at more rate hikes in his speech today. In the Q&A he commented on housing:

"There are some local markets, especially in coastal Florida, where I've heard stories for more than a year about behavior that's got to be characterized as nothing other than speculation," Guynn said it response to questions after his speech.

"It makes me very uncomfortable," he added. "Some buyers, some builders, some lenders are going to get burned, could very likely get burned, in some of those local markets."

On rates, Guynn said:

"Given the current outlook for the economy, my personal view is that we've not yet reached a neutral policy stance."

UPDATE: Dr. Polley earlier posted the same excerpts with a link to Guynn's speech.