Lacker delivered a speech in Raleigh, NC that was surely penned before the jobs data.
- Sees ‘persistent cautiousness in household spending’
- Job market has shown ‘substantial improvement’
- Expects GDP growth to ‘subside’ closer to 2% this year
- Expects inflation to rise toward 2% in the next few years
- Expects 1% annual productivity growth in the next few years
- Expects further reductions in asset purchases to be considered at upcoming FOMC meetings
