Fed's Lacker says inflation still a concern

CHARLOTTE, North Carolina (Reuters) - Recent market turmoil only warrants a change in interest rates by the U.S. central bank if it hits the outlook for inflation or growth, and price pressures remain a worry, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Tuesday.

"I believe there are still reasons to remain concerned about the risks to the inflation outlook," Lacker said in prepared remarks released to the media in advance of delivery.

"Financial market volatility, in and of itself, does not require a change in the target federal funds rate, in my view. Interest rate policy needs to be guided by the outlook for real spending and inflation," he said.

Lacker, not a voting member of the Fed's policy-setting committee this year, was speaking at a Risk Management Association of Charlotte, North Carolina, luncheon.