Fed’s Lacker says markets overreacting to soft data

RICHMOND, Va., July 12 (BestGrowthStock) – The U.S. economy remains
on track for firm growth, and investors should not worry too
much just because a few reports have been weaker than expected,
Richmond Federal Reserve Bank president Jeffrey Lacker said on
Monday.

“Market participants seem to be overreacting to a couple
of reports that have been a little bit below what people
expected,” he told reporters after the launch of the “Fed
Experience” exhibit at the Richmond Fed.

“What I’ve seen in the data reports isn’t inconsistent with
a moderately paced recovery.”

Fed’s Lacker says markets overreacting to soft data