Hike now to avoid more action later, says Fed’s Lacker
Richmond Fed president adds his voice to growing number of Fed officials calling for rate hike
The Federal Open Market Committee (FOMC) should hike soon if it is to avoid having to respond more sharply to rising inflation, Federal Reserve Bank of Richmond president Jeffrey Lacker said today (October 4).
"While inflation pressures may seem a distant and theoretical concern right now, prudent pre-emptive action can help us avoid the hard-to-predict emergence of a situation that requires more drastic action," he told an audience in West Virginia.
Lacker, who is currently not a voting member
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