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Search resuls for: "Reserve Bank of Richmond"


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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAll central banks were too slow to respond to inflation, says fmr. Fed President Jeffrey LackerJeffrey Lacker, former president of the Federal Reserve Bank of Richmond, joins CNBC's 'Squawk Box' to weigh in on the Fed's latest decision to raise its key interest rate by 50 basis points.
EARLY WARNING SIGNSAfter years of tame inflation, Fed officials and other central bankers say they have faced a chain of disruptive events beyond their control ranging from the COVID-19 pandemic to the Ukraine war. The central bank has made conservative estimates on inflation despite Russia cutting gas supplies to Europe in response to Western sanctions over its invasion of Ukraine. Even as some economists say an inflation peak could now be in sight, central bankers remain far from taming inflation. The concern among some central bankers is that politicians will respond by raising public spending and so aggravate the inflation pressure that their rate-hike cure is intended to heal. If that were to happen, central bankers “would have to reverse course to prevent the debt market from becoming more disorderly," Goodhart told Reuters.
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