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Why I dissented again this month – Fed’s Lacker explains

FXStreet (Mumbai) - The Richmond Fed President Jeffrey Lacker crossed the wires via FT last minutes, explaining why he dissented again this month. He also stated that the external headwinds to the US economic outlook seen last month have receded and therefore, he voted for an increase in the key rates at this week’s FOMC meeting.

Key Quotes:

“The Committee's decision not to raise rates in September was influenced, in part, by global financial and economic developments in the weeks before that meeting.”

“I did not believe at the time that the uncertainty stemming from those events was sufficient to justify further delay in policy normalization.”

“The data we have received since the September meeting have strengthened my confidence that those events are not likely to change the medium-term outlook for U.S. growth and inflation.”

“Wanted rate hike at Oct 27-28 FED meeting because of steady growth in output, household spending we have been observing.”

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