Federal Reserve

Fed's Lacker says the case for a rate increase in September is strong

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

Federal Reserve Bank President of Richmond Jeffrey Lacker said on Wednesday there is a 'strong case' for a rate hike in September.

Lacker said the recent employment and gross domestic product numbers point to a recovery in the second half of 2016.

Lacker argued last week that Fed interest rate policy was likely too low and he told reporters in Washington on Wednesday the Fed needs to "make up ground" on rate policy.

Reuters contributed to this report.