Fed's Lockhart: "Serious discussion" warranted at upcoming Fed meeting --Rtrs

LOCKHART SAYS CONTACTS WITH BUSINESS COMMUNITY INDICATE CAUTIOUS OPTIMISM THAT WILL INFLUENCE HIS POLICY VIEW

Lockhart: Economic momentum is adequate to achieve the Fed's goals in the mediaum term

LOCKHART SAYS LACK OF PROGRESS ON INFLATION REMAINS "AWKWARD" PIECE OF FED'S PUZZLE,BUT IS CONFIDENT IT WILL INCREASE AS LABOR MARKETS CONTINUE TO IMPROVE

LOCKHART: SEE FEW RECENT WEAK ECONOMIC REPORTS, INCLUDING ISM.

LOCKHART SAYS REMAINING SLACK IN LABOR MARKET IS "RELATIVELY SMALL"

LOCKHART SAYS EXPECTS STRONG SECOND-HALF GROWTH THIS YEAR AT A THREE PERCENT ANNUALIZED RATE

CITING POTENTIAL FOR MARKET VOLATILITY, LOCKHART SAYS WON'T COMMENT ON LIKELY OUTCOME OF SEPT, NOV OR DECEMBER FOMC MEETINGS

LOCKHART SAYS ECONOMIC MOMENTUM ADEQUATE TO ACHIEVE FED'S GOALS IN MEDIUM TERM

LOCKART EXPECTS "LIVELY DISCUSSION" OVER WHETHER CURRENT INFLATION AND UNEMPLOYMENT READINGS CONSISTENT WITH POLICY RATE STILL CLOSE TO ZERO