Fed's Lacker: must defend inflation goal from both sides

ASHEBORO, North Carolina Thu Nov 21, 2013 1:31pm EST

Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, participates in a session titled, ''Help or Harm: Central Bank Monetary Policies at the Outer Limits'' NABE Economic Policy Conference in Washington March 5, 2013. REUTERS/Yuri Gripas

Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, participates in a session titled, ''Help or Harm: Central Bank Monetary Policies at the Outer Limits'' NABE Economic Policy Conference in Washington March 5, 2013.

Credit: Reuters/Yuri Gripas

ASHEBORO, North Carolina (Reuters) - The U.S. Federal Reserve must make sure inflation does not get too far either below or above its 2 percent goal, Richmond Fed President Jeffrey Lacker said on Thursday.

"We must defend our goal from both sides," he said during a question-and-answer session after a speech.

Lacker, who has a reputation for being tough on inflation, said it would be appropriate for the U.S. central bank to start scaling back its asset purchases between December and March.

(Reporting by Jason Lange; Editing by Krista Hughes)

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