Fed’s Lacker Sees Moderate Growth, Urges No New Stimulus

Federal Reserve Bank of Richmond President Jeffrey Lacker predicted the U.S. economy will grow 2 percent to 2.5 percent next year, with inflation likely to meet central bank goals, and urged no additional stimulus.

“I am hard-pressed to see the rationale for any further monetary stimulus” with growth at 2 percent or higher and inflation around 2 percent, Lacker told reporters after a speech today in Charlotte, North Carolina. “Recent economic news in the U.S. has been positive for a couple months now” while prospects in Europe have been “deteriorating,” he said.