Just three months after Atlanta Fed president Dennis Lockhart announced he would step down as president effective February 28, moments ago another (non-voting) FOMC member, the uber-hawkish president of the Richmond Fed, Jeffrey Lacker, 61, also decided to call it quits as well, and on Tuesday said he will retire as president and chief executive officer of the Federal Reserve Bank of Richmond on Oct. 1, after 28 years at the Richmond Bank.
“It’s been an honor to serve the Federal Reserve,” Lacker said. “I feel fortunate to have spent time throughout the Fifth District learning first-hand about people’s economic experiences, and to have participated in some of the most extraordinary policy deliberations in our nation’s history. It’s been my deepest privilege to lead the Richmond Fed and the dedicated people who work here.”
Lacker joined the Richmond Fed in 1989, where he served in various positions prior to his appointment as president in August 2004. Previously, Lacker was an assistant professor of economics at Purdue University, and also previously worked at Wharton in Philadelphia.
Continuing his hawkish ways, Lacker, who is not a policy voter in 2017, on Friday said that recent data supports further Fed rate hikes, when he said that improvement in inflation compensation measures, strong employment growth, and possible fiscal stimulus support case for higher rates.
This post was published at Zero Hedge on Jan 10, 2017.
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