BEIJING — It’s unlikely that “exceptionally low” Federal Reserve interest rates will be warranted until at least late 2014, as the Federal Open Market Committee restated after its March 13 policy meeting, Richmond Federal Reserve Bank president Jeffrey Lacker said Friday morning.

Rather, the federal funds rate will likely need to rise “sometime in 2013,” Lacker said in a statement released on the Richmond Fed website. Lacker, a voting FOMC member, was the lone dissenter from the March 13 policy statement.

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