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Fed's Lacker says there's 'strong' case for June interest rate hike
Fed's Lacker says there's 'strong' case for June interest rate hike

A top Federal Reserve policymaker said some of the recent economic weakness probably was caused by bad weather and insisted that a “strong” case for raising interest rates in June still exists. Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, Va., said an increase of a “notch or two” in the near-zero-percent benchmark short-term rate would be “less like taking away the punch bowl and more like just slowing down the refills.” “We will still be spiking the punch — just not quite as rapidly as we have been,” he said in a speech Tuesday at the Greater Richmond Chamber of Commerce's Spring Regional Forum. ...

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