The Federal Reserve should raise interest rates in June, a top Fed official said on Tuesday, saying the U.S. economy is strengthening and that inflation will move back to the central bank’s target.
“At this point, I think June looks like the attractive option” to raise interest rates, Richmond Fed President Jeffrey Lacker told reporters. “The data could change that, but it would have to be surprising data for me.”
Lacker, who is a voting member on the Fed’s policy setting committee this year, said that going back a year, he was advocating for a rate rise in the first half of this year, a stance he said that has only been affirmed by the data coming in.
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