Interest Rates May Have To Rise 'briskly,' Richmond Fed President Says

Richmond Fed President Jeffrey Lacker said interest rates may need to rise "more briskly than markets anticipate" with unemployment at or near sustainable employment and inflation "very close" to the 2% target. Lacker, considered a hawkish member, said he expects 2% GDP growth in 2017, reflecting some probability of a fiscal boost, before growth slows to 1.75% in 2018 and beyond. Lacker isn't a voting Federal Open Market Committee member this year.