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Richmond Fed's Lacker on 2005 economic outlook

    • Central Banking staff
In a speech on 'The Economic Outlook for 2005' given on 3 January, Jeffrey Lacker of the Federal Reserve Bank of Richmond said we are well-positioned for fairly healthy economic conditions in 2005 and inflation should remain well-contained. Lacker struck a less hawkish tone than he did two weeks ago in a speech when he suggested the central bank may have to raise rates more quickly than financial markets had expected.

Looking forward to 2005, Lacker said it seems reasonable to project a

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