Federal Reserve Governor Elizabeth Duke and Federal Reserve Bank of Richmond President Jeffrey Lacker said the central bank is not planning to try to further stimulate the economy, saying the recovery is on track. Comments by Duke and Lacker echo remarks from other Fed officials, Richard Fisher and Thomas Hoenig. Critics said the Fed should do more to spur the economy, but central bankers disagreed. "It would take a very substantial, unanticipated adverse shock" for further stimulus efforts to be appropriate, Lacker said. "Consideration of further easing steps is very far away."
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