Federal Reserve Bank of Atlanta President Dennis Lockhartsaid Friday he still believes the most likely timing for the central bank to raise interest rates lies well into next year.

“I’m sticking to the view that conditions that would justify a liftoff decision will arrive in the second half of next year,” Mr. Lockhart said. “The potential and achievable benefits of sustaining very accommodative monetary stimulus, based on a policy rate in its current range of 0 to 25 basis points, beyond year-end 2014 and into next year continue to outweigh the possible costs.”

Mr. Lockhart’s comments came from the text of remarks prepared for delivery before a gathering held by the Global Interdependence Center in Jackson Hole, Wyo. He isn’t currently a voting member of the monetary-policy setting Federal Open Market Committee.

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