TITLE

Fed's Lacker Says Productivity a Key

AUTHOR(S)
Siegel, Gary E.
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/21/2004, Vol. 350 Issue 32034, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that according to Jeffrey M. Lacker, President of Federal Reserve Bank of Richmond, productivity holds the key to next year's economic prospects. Lacker said he expects inflation and inflation expectations to hold next year because of the Federal rate tightening this year. Moreover, monetary policy is capable of preventing oil price increases, or changes in the foreign exchange value of the dollar for that matter, from showing through to the underlying inflation rate. Financial market participants expect increases in the Federal funds rate to continue next year, although not at the pace of the last half year.
ACCESSION #
15458084

 

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