Fed's Lacker repeats view of 'strong' case for June rate hike

Jeffrey Lacker, of the Federal Reserve Bank of Richmond.
Andrew Harrer | Bloomberg | Getty Images
Jeffrey Lacker, of the Federal Reserve Bank of Richmond.

The case for the Federal Reserve to raise U.S. interest rates in June remains "strong," a top Fed official said on Friday, dismissing the impact of a rising dollar and falling oil prices as temporary.

Richmond Fed President Jeffrey Lacker, who has long called for a prompt tightening of monetary policy, repeated his views that consumer spending, the labor market and other economic conditions have improved significantly over the last year.

"Unless incoming economic reports diverge substantially from projections, the case for raising rates will remain strong at the June meeting," Lacker said in prepared remarks for a Global Interdepedence Center event here.

Lacker's remarks on monetary policy on Friday were a repeat of his views in a March 31 speech he delivered.