Fed's Lockhart: Will no longer advocate for hike in April

• Consumer spending casts some doubt on forecasts
• Sees 2016 GDP in 2.0% to 2.5% range
• Says softer consumption and investment gives him pause
• Patient approach to policy 'makes sense'
• Getting closer and closer to full employment
• Recent improvement in inflation expectations comforting
• 2% inflation is not a ceiling
• Don't need inflation at 2% before next rate hike

 Lockhart used to be one of the most reliable barometers of the core of the Fed but he's been all over the place since he roiled markets with hawkish talk in August only to back down later.