Share “Lacker says Fed program raises inflation...”

Lacker says Fed program raises inflation threat

Associated Press Published: September 15, 2012
Advertisement

WASHINGTON (AP) — The lone dissenter to the Federal Reserve's decision to launch a third round of bond buying to boost the economy says he doesn't think it will provide much help. He also says it runs the risk of making future inflation worse.

Jeffrey Lacker, the president of the Richmond Federal Reserve Bank, opposed the Fed's action to begin buying $40 billion a month in mortgage-backed securities and keep making those purchases until the labor market improves. The Fed's action Thursday triggered a rally on Wall Street and in financial markets around the world.

Lacker said in a statement Saturday that he believes the labor market is being held back by factors beyond the capacity of the Fed to offset. The Fed vote was 11 to 1.


AROUND THE WEB

  1. 1
    FBI looking into the security of Hillary Clinton’s private e-mail setup
  2. 2
    Apple stock implosion shreds $113.4B
  3. 3
    KFOR: Wewoka residents afraid of drinking brown, murky water
  4. 4
    Tulsa man arrested on 19 complaints after high-speed pursuit
  5. 5
    Federal lawsuit filed against Sapulpa Public Schools in connection with rape allegation against...
+ show more

FEATURED JOBS



× Trending business Article