Fed's Lacker signals roughly four rate hikes could be needed in 2016

[WILMINGTON] The Federal Reserve will likely have to raise interest rate around four times this year, Richmond Fed President Jeffrey Lacker said on Tuesday.

Fed policymakers signaled in December that four hikes would probably be needed this year, though policymakers cut their view in March to two rate increases for 2016.

"I think a pace like that reflected by the median projection in December is most likely to be appropriate now," Mr Lacker told reporters in Wilmington, North Carolina.

REUTERS