Fed's Lacker-happy with current Treasury purchases

RALEIGH, N.C., June 10 (Reuters) - Federal Reserve Bank of Richmond President Jeffrey Lacker on Wednesday said that it might not be necessary to increase the Fed's Treasury purchase program if the economy was picking up steam.

"Right now, I don't see a reason to increase it," Lacker said, referring to the Fed's plan to buy up to $300 billion of longer-dated U.S. Treasury securities by the autumn.

"In fact, if anything, if yields are rising because of stronger growth, that would cut against the case for increasing purchases," he told reporters after addressing the North Carolina Senate Appropriations Committee.

He also said that the best explanation for a recent steepening in the yield curve was a brighter economic outlook.

"I think improved prospects for real growth are, in my mind, the strongest contender for an explanation," he said. (Reporting by Alister Bull; Editing by Theodore d'Afflisio)