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Top official frets Fed will wait too long to tighten

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)

Top official frets Fed will wait too long to tighten

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)

Fed's Lacker calls for new laws to end too-big-to-fail threat

PALO ALTO, California (Reuters) - Calling too-big-to-fail banks "the most critical issue facing our financial system," a top Federal Reserve official on Tuesday urged new laws to address the problem, including ending Fed emergency lending powers. "During the crisis, and still today, many people view government-provided backstops to large financial firms as a necessity to prevent financial system malfunctions," Richmond Federal Reserve President Jeffrey Lacker said in remarks prepared for delivery to the Stanford Institute for Economic Policy Research.

Fed's Lacker says tough to see pause in tapering ahead

By Krista Hughes WINCHESTER, Virginia (Reuters) - The U.S. Federal Reserve will probably keep reducing monthly asset purchases at its current pace and it would be hard to make the case for a pause in the tapering process, a senior Fed official said on Tuesday. Richmond Federal Reserve President Jeffrey Lacker said U.S. stocks had performed well looking at the last year and recent moves likely reflected a downward adjustment in expectations for growth.

Fed's Lacker says hurdle should be high for pause in tapering

WINCHESTER, Virginia (Reuters) - The U.S. Federal Reserve will probably keep reducing monthly asset purchases at its current pace and any hurdle for a pause ought to be "pretty high", a senior Fed official said on Tuesday. Richmond Federal Reserve President Jeffrey Lacker said recent moves in financial markets did not seem to have affected the outlook for jobs, a key benchmark for future Fed policy. "I think the hurdle ought to remain pretty high for pausing in tapering," he told reporters.

Fed's Lacker says U.S. data justifies less bond buying

RICHMOND, Virginia (Reuters) - Signs of an improving labor market justify further reductions in monthly bond purchases by the Federal Reserve, a senior official at the U.S. central bank said on Friday. Richmond Fed President Jeffrey Lacker told journalists that a report showing weak U.S. hiring in December appeared to be "aberrational."

S. Korea freezes policy rate at 2.5 pct

S. Korea freezes policy rate at 2.5 pct SEOUL, Dec. 12 (Xinhua) -- South Korea's central bank froze its policy rate at 2.5 percent on Thursday, keeping its wait-and-see stance for seven straight months. Bank of Korea Governor Kim Choong-soo and other policy board members decided to keep the benchmark seven-day repurchase rate at 2.5 percent in December, refraining from altering the rate since May when it cut the borrowing costs by 25 basis points.

U.S. stocks open mildly up ahead of Fed speakers

NEW YORK, Dec. 9 (Xinhua) -- U.S. stocks opened mildly up on Monday ahead of speeches from several Federal Reserve officials who are due to speak later in the day. With a light economic calendar, investors are awaiting speeches from Richmond Fed President Jeffrey Lacker, St. Louis Fed President James Bullard and Dallas Fed President Richard Fisher for clues as to the timing of the Fed's first tapering. The U.S. central bank is slated to hold its December policy meeting next week. Last week, the Dow Jones Industrial Average and the S

Fed's Lacker says should be cautious about tweaking forward guidance

ASHEBORO, North Carolina (Reuters) - The U.S. Federal Reserve should be cautious about making any changes to its pledges to keep interest rates low because it could lose the trust of the public, a top Fed official said on Thursday. "If you go changing what you're saying about how you're likely to behave from time to time, you could erode people's confidence that you're going to follow through on what you say you're going to do," Richmond Federal Reserve President Jeffrey Lacker told reporters.

Fiscal mess should not deter U.S. Fed stimulus pullback: Lacker

CHARLOTTE, North Carolina (Reuters) - The U.S. government shutdown and other budget battles should not derail the Federal Reserve from beginning to pull back the pace of monetary stimulus soon, Richmond Fed President Jeffrey Lacker said. Although Lacker said he did not want to preempt the Fed's December 17-18 decision by making any date-specific calls, he noted that he had opposed the latest round of bond purchases all along.
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