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Lacker: Fed Can Raise Rates Before Inflation Goal Reached

Inflation below the Federal Reserve’s target shouldn’t keep the central bank from raising interest rates, said Jeffrey Lacker, president of the Federal Reserve Bank of Richmond.

“Our objective is to keep inflation under control, so keep it averaging 2 percent,” Lacker said today in an interview with Kathleen Hays on Bloomberg Radio. “So to my mind, that doesn’t mean it has to cross two” before the Fed raises rates.