MNI PODCAST: FedSpeak - Lacker Sees Fed Rates Rising to 5%

EXECUTIVE SUMMARY

• Jeffrey Lacker, ex-Richmond Fed president, says officials have allowed inflation expectations to build.
• That means they'll have to raise rates more than otherwise, he said, likely up to 5%.
• Given that amount of tightening, it will be hard to avoid a recession, argued Lacker.

Listen to the full podcast here.