Fed's Lacker: More easing would raise inflation

WASHINGTON (MarketWatch)
More easing by the Federal Reserve would raise inflation and do little for growth, a key central bank official said Tuesday
The first Fed rate hike may have to come in mid-2013, much sooner than the late-2014 timeframe that the Federal Open Market Committee thinks is likely, Richmond Federal Reserve Bank President Jeffrey Lacker said in an interview at a conference sponsored by Bloomberg
Lacker, who is a voting FOMC member and has dissented from all three policy statements this year, said the Fed must hike rates before inflation pressures are plainly evident
The first rate hike might have to come even though the unemployment rate is above 7%, he said