Richmond Federal Reserve Bank President Jeffrey Lacker Friday renewed his warnings that the Fed's prolonged asset buying could drive up inflation and unhinge inflation expectations.

Lacker, who has been the lone dissenter on the Fed's policymaking Federal Open Market Committee all year, issued a statement praising the FOMC for discontinuing the use of specific calendar date for signaling how long it will keep the federal funds rate near zero, but deplored the use of an unemployment threshold for doing so.

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