Economics
Fed Dissenter Lacker Says U.S. Economy Needs Higher Rates Now
- Says zero rates no longer warranted for growing economy
- Frequent dissenter in past, Lacker's `no' was first for 2015
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Federal Reserve Bank of Richmond President Jeffrey Lacker, an outspoken anti-inflation hawk who dissented in favor of higher interest rates at the Fed’s policy meeting on Thursday, said failing to tighten had raised the risk of “adverse outcomes” for the nation.
“An increase in our interest rate target is needed, given current economic conditions and the medium-term outlook,” Lacker said in a statement posted on the bank’s website Saturday.