Fed's Lacker: May need to raise rates this year

ROANOKE, Virginia (Reuters) - The U.S. economy is recovering well, raising inflation risks that could force the Federal Reserve to raise interest rates before the end of the year, Richmond Fed President Jeffrey Lacker said on Thursday.

"Rate hikes by year end are certainly a possible outcome given what we see with momentum in economic and given how inflation risks seem to have evolved," said Lacker, widely seen as a big inflation hawk at the central bank.