Fed's Lacker Makes Case For June Rate Hike

(RTTNews) - Low inflation should not keep the Federal Reserve from raising interest rates in June, Richmond Federal Reserve President Jeffrey Lacker said Friday.

His remarks came hours after another blockbuster jobs report cemented the belief that the U.S. economic recovery is well on track.

"If we're confident that (lower oil prices) are transitory, then inflation expectations remain fairly stable and we can chug along and take that volatility in stride," Lacker said, speaking on the Business Radio program on SiriusXM satellite radio.

"June would strike me as the leading candidate for liftoff" as long as incoming economic data satisfies policy makers, he added.