Fed’s George, Lacker supported rate hike ahead of March meeting
The heads of two regional Federal Reserve banks supported a rate hike ahead of the Fed’s March meeting as an improving economy added to sentiment to tighten monetary policy.
The heads of the Richmond and Kansas City Fed branches supported a quarter point hike in the main lending rates for banks “in light of continued improvements in labor market conditions and expectations that inflation would rise,” according to minutes of the Fed’s March discount rate meeting.
The discussion over discount rates preceded the Fed’s policy meeting held last month. The target federal funds rate was held steady at that session.
