Fed’s Lacker Sees Rate Rise Before 2014
The head of the Richmond Federal Reserve took issue with the wisdom the central bank as it was stated earlier this week. Ben Bernanke said that interest rates as set by the Fed would not rise before the end of…
The head of the Richmond Federal Reserve took issue with the wisdom the central bank as it was stated earlier this week. Ben Bernanke said that interest rates as set by the Fed would not rise before the end of 2014.
Richmond Fed president Lacker said, explain his disagreement
“I dissented because I do not believe economic conditions are likely to warrant an exceptionally low federal funds rate for so long. I expect that as economic expansion continues, even if only at a moderate pace, the federal funds rate will need to rise in order to prevent the emergence of inflationary pressures. This increase in interest rates is likely to be necessary before late 2014.”
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