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Friday, December 16, 2016

Fed's Lacker: Lots of uncertainty about future Trump economic policy

  • Encouraged by Trump's pro-growth agenda
  • Hard-to-find serious examples overvaluation in markets
  • Expected US payroll growth to have slowed down by now
  • Lacker says 60K job growth is needed to match labor force growth
  • More interest rate adjustments are needed.
  • Capacity expenditures is critical for improvement in productivity
  • Businesses have been holding back prior to the election
  • Key is for Fed to move ahead of inflationary pressures
  • My guess is Fed will need more than three hikes in 2017
  • Challenge  for the Fed is to engineer a soft landing
Lacker is not a voting member until 2018

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