CHANTILLY, Va. — No doubt the economic recovery has been disappointing so far, but “the factors that have held back growth this year — and seem likely to abate — are largely beyond the power of the central bank to offset,” Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, said Thursday.

Besides, “given current inflation trends, additional monetary stimulus at this juncture seems likely to raise inflation to undesirably high levels and do little to spur real growth,” Lacker said in remarks prepared for the Dulles Regional Chamber of Commerce.

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