With the majority of market watchers expecting the Federal Reserve to stand pat on interest rates at the next meeting, Richmond Fed President Jeffrey Lacker said the next rate increase should happen sooner rather than later.
Lacker spoke on Tuesday in Newark, Delaware, at the University of Delaware 2017 Economic Forecast panel discussion.
“Rates need to rise more briskly than markets now seem to expect,” he said in prepared remarks. “And the elevated uncertainty now surrounding fiscal policy, particularly the potential for substantial fiscal stimulus, suggests that our next increase should come sooner rather than later in order to reduce the risks associated with having to raise rates more rapidly later on.”
Earlier this month, the Federal Open Market Committee (FOMC) decided to keep the target range for the federal funds rate at 0.5 to 0.75 percent.
via CNBC 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.