WASHINGTON — Richmond Federal Reserve Bank President Jeffrey Lacker Monday reiterated his view that growth will begin to strengthen "later next year" in an overall "cautiously optimistic" assessment of his outlook.

In remarks prepared for the Roanoke Regional Chamber of Commerce in Virginia, Lacker described his outlook as "cautiously optimistic" for output and employment growth, noting that "Labor market conditions have been particularly disheartening" since the end of the second quarter of 2009.

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