by Greg Robb
The case for an interest-rate increase in June “looks to be pretty strong,” said Richmond Fed President Jeffrey Lacker on Monday.
In an interview with the Washington Post, Lacker said that inflation is moving “decidedly” toward the central bank’s 2% target. He said that labor markets are tight and the downside risks to growth have “dissipated” from the very beginning of the year.
“To me that adds up to a pretty strong case for a June move,” Lacker said.
The Richmond Fed president is not a voting member of the Fed policy committee this year. He has been one of the most forceful advocates in the central bank for hiking rates.