Former Richmond Fed President Lacker Says Fed Lacks Inflation Urgency

Former Federal Reserve Bank of Richmond President Jeffrey M. Lacker said the Fed should have raised interest rates at its Oct. 28 meeting, arguing that policymakers have shown too little urgency as inflation remains above their 2% goal. “I think the case for moving is strong. I’m surprised by their lack of urgency,” Lacker said. He said the decision to hold rates did not surprise him because officials had signaled they would wait. The Federal Open Market Committee kept its federal funds target range at 3.75% to 4% in a 10-2 vote. Lisa D. Cook and Beth M.

Source: TokenPost