Richmond Fed's Lacker on the economic outlook

In the speech 'Economic outlook' given on 19 January Jeffrey Lacker of the Federal Reserve Bank of Richmond said the possibility of resurgent inflation remains the biggest risk to policymakers.

"The risk that core inflation surges again, or does not subside as desired, clearly remains the predominant macroeconomic policy risk," Lacker said in the speech to the Richmond Risk Management Association.

Lacker said he welcomed recent news showing a moderation in core inflation, but "it will take several

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