Fed's Lacker says rates might need to rise a lot, case for hike strong

Richmond Federal Reserve President Jeffrey Lacker on Tuesday said there was a strong case for raising interest rates, arguing that borrowing costs might need to rise significantly to keep inflation under control. The Fed last raised its benchmark federal funds rate in December and Lacker, who is not a voting member of the Fed's rate-setting committee this year but participates in its discussions, has been pressing in recent months for further hikes....(read more)

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