Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, has stuck to his bullish outlook for the U.S. economy and subsequent hawkish assessment in respect to the path of tightening by the Fed this year. He explained that the pace of hikes for 2016 forecasted at 2015 December meeting is most likely to be appropriate and added that the data since the March meeting has bolstered the case while risks to US growth from global influences are relatively balanced. Other comments came in as follows on Reuters: "US labor market is strong and growing stronger; US outlook has not changed materially since December. Inflation returning to 2% faster than expected; downward pressure on inflation from dollar is 'plausibly behind us. A persuasive case for increasing the target range for the federal funds rate. Rapid firming in core inflation, well-anchored inflation expectations are reasons to raise federal funds rate." For more information, read our latest forex news.