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Top official frets Fed will wait too long to tighten

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(Globalpost/GlobalPost)

NEW YORK (Reuters) - A hawkish Federal Reserve official said on Tuesday he questions whether his fellow policymakers will have the "courage" and "will" to raise interest rates when the time is right.

Jeffrey Lacker, president of the Richmond Fed, told the Council for Economic Education that the U.S. central bank will have to move to tighten policy "expeditiously" before currently low inflation pressures start to rise.

(Reporting by Jonathan Spicer; Editing by Leslie Adler)

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