The Atlanta Federal Reserve Bank President Dennis Lockhart said at an investment education conference in Detroit on Thursday that he is confident that the recent weak U.S. economic data is temporary. He added that the weak economic data do not indicate a slowdown in the U.S. economy.

But Lockhart noted that consumers are "bit cautious".

The Atlanta Federal Reserve Bank president also said that he wants "to be able to move deliberately" towards interest higher rates when the Fed starts to raise its interest rate.

He believes that the divergence of monetary policy among major central banks was behind the recent increase of the U.S. dollar.

Lockhart is a voting member of the Federal Open Market Committee this year.