Lacker: More stimulus would just raise inflation
Lacker backs steady Fed policy at moment
Lacker now sees first Fed hike late 2013
Lacker: Fed policy doesn't have much punch
Lacker: Growth has clearly weakened
http://www.marketwatch.com/story/feds-lacker-doubts-more-easing-would-spur-growth-2012-06-25?link=MW_latest_news
It is doubtful that another round of bond buying would boost economic
growth, Jeffrey Lacker, the president of the Richmond Federal Reserve
Bank, said Monday. Many economists think following the Fed's
interest-rate-setting-committee meeting last week that the central banks
is now closer to launch another round of QE. "The impediments to growth
are things that monetary policy is really not that capable of
offsetting," Lacker said in an interview with the Fox Business Network.
Lacker said that growth has clearly weakened over the last few months,
in part due to uncertainty about future government tax and spending
policies. Lacker dissented from the Fed's action last week to extend its
Operation Twist plan to bring down long-term yields. Lacker said he
expects inflation to stay close to the Fed's 2% target despite the
recent softness in oil prices. Lacker said he favors steady policy and
now sees the first rate hike coming in "late" 2013 due to the recent
slowdown, later than the "mid" 2013 projection he made last month
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