ASHEBORO, N.C. — The costs exceed the benefits of the Federal Reserve continuing its large-scale asset purchases, Richmond Federal Reserve Bank President Jeffrey Lacker strongly suggested Thursday.

Lacker said limits on growth of both productivity and the number of workers is apt to restrain real GDP growth to little more than 2%, despite the Fed's aggressive monetary stimulus measures. Meanwhile, he said the costs and risks grow the more the Fed's balance sheet expands.

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