Richmond Fed's Lacker on the economic outlook

In the speech 'The economic outlook' given on 4 April Jeffrey Lacker of the Federal Reserve Bank of Richmond said the U.S. economy looks set for healthy gross domestic product growth of about 3.5 percent in 2006, despite some cooling in the housing market.

"My assessment is that plausible rates of moderation in housing activity will not pose a problem for overall activity this year or next," he said, noting that personal income and business investment were both rising.

"Consumer spending should

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