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255:(FOMC) meetings. The FOMC decided to keep interest rates steady at 5.25 percent after a series of seventeen consecutive increases of twenty-five basis points each, while Lacker voted for additional tightening. At the January 2009 meeting, "Mr. Lacker dissented because he preferred to expand the monetary base by purchasing U.S. Treasury securities rather than through targeted credit programs", according to the FOMC minutes.
282:
On April 4, 2017, Lacker abruptly resigned his post, admitting that he spoke to a Medley Global
Advisors financial analyst about confidential Fed deliberations in 2012, and also "failed to disclose the details of the conversation even when he was questioned directly in an internal investigation." The
274:
When the Fed met in
September 2015, Lacker issued the only vote in favor of increasing interest rates. His was the first such dissenting vote from the committee all year. He was termed "a maverick" in a February 2017 Richmond Times-Dispatch cover story in the RTD Metro Business section. Previously in
551:
He joined the
Richmond Fed in 1989 and served in various positions before his appointment as president in August 2004, succeeding J. Alfred Broaddus, Jr. when he retired as president. "When Jeff leaves the bank in October, he will have completed over 13 years of exceptional service to the Richmond
258:
In addition Lacker voted against the action at April 2012 meeting: "... who does not anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate through late 2014", according to FOMC press release. He cast the sole vote against
672:
536:
Blackwell, John Reid (February 27, 2017). "Fed's Lacker 'a maverick':Lacker outspoken at
Federal Reserve Bank of Richmond--While retiring president often questioned policies, he defended institution itself". No. RTD Metro Business. Richmond Times-Dispatch. pp. E1,
405:, May 9, 2013. Accessed April 17, 2014. "It's delightful to be back in New York. I grew up just over the river, Ridgewood, New Jersey, and -- son's here, had dinner with my son last night and was treated to just an exceptional flight in over Lower Manhattan last night."
291:
all investigated the leak, but no charges were brought against any person. Lacker's attorney said that Lacker had cooperated with the
Justice Department and that he was "informed that no charges will be brought and that the investigation as to him is complete."
353:
Jeffrey Lacker was born in
Lexington, Kentucky, the son of William Ralph Lacker and Marion Pharis Spears ("Mern") Lacker. He and his wife, Lisa Halberstadt, daughter of Jack Halberstadt and Elaine Greenberg Halberstadt, have two sons, Benjamin and Daniel.
928:
548:
Blackwell, John Reid (January 11, 2017). "Richmond Fed chief to retire in
October: Advocate of workforce training and early childhood development". No. RTD Business. Richmond, Virginia: Richmond Times-Dispatch. pp. D1, D4.
240:
in 1989 as an economist in the banking area of the
Research Department. He was named research officer in 1994, vice president in 1996, and senior vice president and director of the Research Department in May 1999.
394:
585:
248:. He served the remainder of a term that began on March 1, 2001. He served as a voting member of the Federal Open Market Committee, bringing his district's perspective to policy discussions in Washington.
318:
Lacker is the author of numerous articles in professional journals on monetary, financial, and payment economics, and has presented his work at several universities and central banks. He taught at
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Blackwell, John Reid (January 11, 2017). "Richmond Fed chief to retire in
October". Richmond Times-Dispatch. p. D4.
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673:"Jeffrey M. Lacker To Retire In October As President Of The Federal Reserve Bank Of Richmond - Bing News"
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637:"Cato Journal: From Real Bills to Too Big to Fail: H. Parker Willis and the Fed's First Century"
523:"The Fed's critic and defender: Jeffrey Lacker reflects on 28 years at the Federal Reserve Bank"
209:
610:
268:
251:
Lacker's vote was the solitary dissent in the August, September, October, and
December 2006
124:
586:"An economic recovery in this crisis depends on health policy, Richmond Fed president says"
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229:
133:
857:
845:
78:
328:
From Real Bills to Too Big to Fail: H. Parker Willis and the Fed's First Century
307:
162:
728:
30:
372:"Former Richmond Fed president Jeffrey Lacker to join VCU School of Business"
244:
Lacker took office on August 1, 2004, as the seventh chief executive of the
154:
778:"The Federal Reserve Bank of Richmond: Who we are: President Jeff Lacker"
457:"FRB: Press Release-Federal Reserve issues FOMC statement-April 25, 2012"
929:
University of Wisconsin–Madison College of Letters and Science alumni
806:
568:
Richmond Fed President Resigns, Admitting He Violated Confidentiality
341:
and the World Affairs Council of Greater Richmond. He serves on the
219:
200:
in Philadelphia. He went on to earn a Ph.D. in economics from the
611:"President Jeffrey Lacker Bio - Federal Reserve Bank of Richmond"
416:"President Jeffrey Lacker Bio - Federal Reserve Bank of Richmond"
552:
Fed, the Federal Reserve System and the country," Broaddus said.
334:
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in 1992 and 1993, and in 1997 he was a visiting scholar at the
306:
that Lacker had been appointed Distinguished Professor in the
161:
until April 4, 2017. He was a Distinguished Professor in the
296:
169:
204:
in 1984. He was an assistant professor of economics at the
279:
announced that Lacker would retire on October 1, 2017.
440:
FOMC: Transcripts and Other Historical Materials, 2006
192:. He received his bachelor's degree in economics from
297:
Virginia Commonwealth University School of Business
116:
93:
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72:
60:
41:
21:
562:
560:
479:"Fed's Latest Stimulus Lacked Unanimous Support"
246:Fifth District Federal Reserve Bank at Richmond
584:Times-Dispatch, JOHN REID BLACKWELL Richmond.
418:. Richmondfed.org. 2004-08-01. Archived from
8:
812:Biography on Federal Reserve History website
333:Lacker is a member of the Advisory Board of
224:Lacker (right) with Richmond Fed Presidents
894:Federal Reserve Bank of Richmond presidents
816:
198:Wharton Econometric Forecasting Associates
29:
18:
499:Appelbaum, Binyamin (17 September 2015).
196:in 1977. Following graduation, he joined
153:(born September 27, 1955) is an American
635:Lacker, Jeffrey M. (26 February 2019).
392:"A Conversation with Jeffrey M. Lacker"
363:
56:August 1, 2004 – April 4, 2017
904:Franklin & Marshall College alumni
909:Krannert School of Management faculty
501:"Fed Leaves Interest Rates Unchanged"
7:
477:All Things Considered (2012-09-15).
285:Commodity Futures Trading Commission
271:at the September 2012 FOMC meeting.
807:Jeffrey Lacker's personal home page
444:Federal Reserve Board of Governors
14:
924:People from Ridgewood, New Jersey
780:. Richmondfed.org. Archived from
869:21st-century American economists
836:Federal Reserve Bank of Richmond
459:. Federalreserve.gov. 2012-04-25
238:Federal Reserve Bank of Richmond
167:Virginia Commonwealth University
159:Federal Reserve Bank of Richmond
130:University of Wisconsin, Madison
44:Federal Reserve Bank of Richmond
919:People from Lexington, Kentucky
320:The College of William and Mary
202:University of Wisconsin–Madison
339:Council for Economic Education
1:
253:Federal Open Market Committee
206:Krannert School of Management
194:Franklin and Marshall College
121:Franklin and Marshall College
503:. The New York Times Company
403:Council on Foreign Relations
337:, and is a director of the
955:
934:21st-century American Jews
899:Federal Reserve economists
884:Economists from New Jersey
874:20th-century American Jews
265:mortgage-backed securities
939:Purdue University faculty
842:
832:
824:
819:
216:Career at Federal Reserve
157:and was president of the
144:
84:
49:
37:
28:
889:Economists from Virginia
879:Economists from Kentucky
295:On August 14, 2018, the
756:Richmond Times-Dispatch
702:Richmond Times-Dispatch
698:"LACKER, WILLIAM RALPH"
590:Richmond Times-Dispatch
308:Department of Economics
277:Richmond Times-Dispatch
163:Department of Economics
724:"Marion Pharis Spears"
343:University of Richmond
326:. He is the author of
289:U.S. Attorney's Office
233:
223:
190:Ridgewood, New Jersey
566:Binyamin Appelbaum,
267:and the issuance of
752:"HALBERSTADT, JACK"
615:www.richmondfed.org
525:. 26 February 2017.
390:Harper, Christine.
345:board of trustees.
324:Swiss National Bank
263:by the purchase of
261:quantitative easing
212:from 1984 to 1989.
186:Lexington, Kentucky
184:Lacker was born in
110:Lexington, Kentucky
828:J. Alfred Broaddus
704:. 24 November 2016
397:2014-04-19 at the
301:Richmond, Virginia
236:Lacker joined the
234:
226:J. Alfred Broaddus
174:Richmond, Virginia
170:School of Business
104:September 27, 1955
67:J. Alfred Broaddus
16:American economist
852:
851:
843:Succeeded by
834:President of the
758:. 10 January 2017
210:Purdue University
188:, and grew up in
151:Jeffrey M. Lacker
148:
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42:President of the
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732:. 4 January 2011
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74:Succeeded by
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864:1955 births
736:October 22,
228:(left) and
180:Early years
62:Preceded by
858:Categories
840:2004–2017
762:11 January
729:Legacy.com
708:11 January
682:11 January
620:11 January
485:2012-10-02
463:2012-10-02
426:2012-10-02
377:2018-10-22
358:References
275:2017, the
100:1955-09-27
788:April 28,
304:announced
155:economist
117:Education
52:In office
537:E12–E14.
395:Archived
232:(center)
646:20 June
595:8 April
165:at the
287:, and
112:, U.S.
481:. NPR
283:Fed,
790:2012
764:2017
738:2018
710:2017
684:2017
648:2019
622:2017
597:2020
509:2015
94:Born
299:in
208:at
172:in
138:PhD
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570:,
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