Fed’s Lacker favors faster rate hike path to curb inflation

Jeffrey Lacker, the hawkish president of the Federal Reserve Bank of Richmond, said on Monday he is worried inflation could surge unless the U.S. central bank raises interest rates faster than his fellow policymakers anticipate. “Right now I think we are at risk of getting behind the curve, so lately I’ve been an advocate of pushing rates up a little more aggressively than my colleagues,” Lacker said in an interview on WCVE, a Richmond public radio station.

Former Fed board member J. Dewey Daane has died

J. Dewey Daane, a noted expert on monetary policy who was nominated to serve on the Federal Reserve board by President John F. Kennedy, has died. He was 98. His death Tuesday in Nashville was announced by Vanderbilt University where Daane had been a longtime professor at the Vanderbilt Owen Graduate School of Management.