Fed's Lacker Urges Higher Rates as Inflation Heads Back to Goal
- Richmond Fed leader says 'case for upward adjustment is clear'
- Commitment to 'gradual' suggests 1 point a year, Lacker says
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Federal Reserve Bank of Richmond President Jeffrey Lacker expressed confidence that inflation will return to the central bank’s target after oil prices and the U.S. dollar stabilize and called for a continued tightening in monetary policy.
“While there is uncertainty about the pace at which monetary policy rates will rise, the case for an upward adjustment in rates should be clear,” Lacker said in the text of a Thursday in Raleigh, North Carolina.