Tuesday, 1 May 2012 - 20:33
Fed's Lacker: Likely Will Need To Raise Rates In Mid-'13 To Deal With Inflation -Bloomberg TV
DOW JONES NEWSWIRES
Federal Reserve Bank of Richmond President Jeffrey Lacker Tuesday said the central bank likely will need to raise rates in mid-2013 in order to deal with inflation.
"My view is that we're likely to need to raise rates in mid-2013 in order to keep inflation pressures contained," Lacker said in an interview with Bloomberg Television.
A hike in rates, Lacker said, would be "perfectly manageable, and we could even see inflation expectations come down on a day like that."
Inflation at present, he added, is in a "good place now" and likely to stay around 2%.
He also reiterated his opposition to additional monetary stimulus, saying that course of action would raise inflation "and likely do very little for the growth process."
-Dow Jones Newswires; 212-416-2900
(END) Dow Jones Newswires
May 01, 2012 13:33 ET (17:33 GMT)
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