September FOMC Dissenter Lacker Says Oct Rate Hike Possibles

The Federal Reserve could still raise interest rates this month, Richmond Fed President Jeffrey Lacker said Thursday.

“I don’t see why not,” Lacker told The Wall Street Journal. “We will have another labor market report. Presumably that will move us further toward labor market improvement.”

The Labor department is scheduled to release the nonfarm payrolls report for September.

Lacker also said Fed officials will have more information about the strength of consumer spending when their next meeting begins. “It looks like consumers have continued to spend in August despite all of the turmoil and it seems like that is carrying over into September,” he told the newspaper.

The Fed kept interest rates low during its last monetary policy meeting, a decision to which Lacker dissented.

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