Exactly what the Fed's Lacker said on Fox Business Lacker did his regular hawkish song-and-dance on Fox Business today. "I thought the case was strong this past week for another increase," he said. "Given how tight labor markets are, given how close we are to our inflation target, our benchmarks point to interest rates that are substantially higher than they are now and I think we need to get on with it." He cited "clear evidence of wage pressures" as a reason to hike and also that "labor markets are fairly tight right now." Lacker said that his colleagues believe that they can allow the employment market to get even ... (full story)