Don't forget inflation - Richmond's Lacker

Federal Reserves monetary policy needs to remain consistent and not allow inflation to accelerate over the business cycle, said Jeffrey Lacker, the president of the Richmond Federal Reserve.

Lacker said that many economists were predicting low inflation in the coming months. However, while economic slowdown and declining price pressures were indeed correlated, one should be cautious about over relying on its causal relationship, he added.

Click here to read the speech

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