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MNI INTERVIEW: Fed May Need To Raise Rates To 5% -Lacker

(MNI) Washington

A recession will be hard to avoid, ex-Richmond Fed President Jeffrey Lacker told MNI's FedSpeak podcast.

The Federal Reserve may have to push interest rates much higher than markets expect in order to contain an inflation problem that it allowed to get out of hand, former Richmond Fed President Jeffrey Lacker told MNI.

Fighting inflation from behind means the Fed will need to do more than it would have otherwise to ensure policy is actually restrictive enough to tamp down demand.

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The Federal Reserve may have to push interest rates much higher than markets expect in order to contain an inflation problem that it allowed to get out of hand, former Richmond Fed President Jeffrey Lacker told MNI.

Fighting inflation from behind means the Fed will need to do more than it would have otherwise to ensure policy is actually restrictive enough to tamp down demand.

Keep reading...Show less