Strong case for a June rate hike – Fed’s Lacker

FXStreet (Mumbai) - Richmond Fed’s Jeffrey Lacker once again came out in support of an interest rate hike in June, while stating that there is no pre-set timetable for policy normalization.

Lacker added that policy is set from meeting to meeting and blamed the bad weather for the recent string of weak economic data. On inflation, the policy maker said the disinflationary impact of a strong US dollar and weak oil prices is likely to be transitory and expressed confidence that inflation will return to 2%.