Fed's Lacker responding to audience questions:

  • Short-term interest rates ought to be higher right now
  • Indicators point to need to raise rates this year
  • Widely expected fed to raise rates this year
  • don't expect unusual market volatility around rate rise
  • I'm undeterred by recent data
  • Weakness in data 'can't go on forever'

Says he has not made up his mind on how he will vote at the June FOMC meeting

(Lacker is a relative 'hawk'. He has a vote on the FOMC this year)