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Post by bot on Aug 13, 2014 20:04:36 GMT -5
WASHINGTON (MarkWatch) - The U.S. central bank is not behind the curve on inflation, said Jeffrey Lacker, president of the Richmond Fed, on Wednesday. "I don't see signs of that," Lacker said in an interview with the Washington Post. Behind the curve is shorthand for arguments that the Fed should have already raised rates to tamp down rising inflation, suggesting the central bank may have to raise rates more quickly or take them higher than they otherwise would in order to catch up. It is "likely" that the U.S. central bank will raise interest rates next year and not sooner, Lacker said. The Richmond Fed president, one of the most hawkish of the 12 regional presidents of the central bank, will be a voting member of the Fed policy committee in 2015. In contrast to many of his colleagues, Lacker believes the Fed should sell assets from its $4.4 trillion balance sheet as quickly as possible.
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