- U.S. inflation will likely accelerate in coming years and move toward the Federal Reserve's 2% target, Richmond Fed President Jeffrey Lacker said during a speech at the Banque de France in Paris.
- "Inflation has been held down recently by two factors, the falling price of oil and the rising value of the dollar...after the price of oil bottoms out, I would expect to see headline inflation move significantly higher."
- Lacker, who doesn't vote on monetary policy this year, dissented in September and October in favor of an earlier liftoff of interest rates from zero - a move finally made by the Fed in December.