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Fed’s Lacker Says Jobs Market Has Healed Enough

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A top Federal Reserve official said Friday he had seen enough healing in the U.S. labor market to warrant raising interest rates soon.

Richmond Fed President Jeffrey Lacker, who had advocated for a rate hike in June and will have a vote at the Fed’s Sept. 16-17 policy meeting, said the U.S. economy no longer needs interest rates near zero.

“It’s time to align our monetary policy with the significant progress we have made,” Lacker said in prepared remarks titled “The Case Against Further Delay.”
Lacker’s comments came just minutes before the Labor Department was due to release its monthly employment report for August, which was expected to show robust job growth.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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