A Fed's-Eye View
Richmond Fed President Jeffrey M. Lacker, a voter on the Federal Open Market Committee has offered dissenting votes to recent FOMC decisions as he does not favor having an explicit date through which easy monetary policy should be continued.
He believes that incoming data are the best means of determining policy, not the calendar. He is also of the view that monetary policy is not the best prescription for what ails the U.S. labor market, but rather worker training and education, given a skills mismatch. His views dovetail quite well with mine. In fact, many of his comments pertaining to the labor market that he made in a May 7 on technology and workforce skills and also in a speech made May 2 on his economic outlook, you will also find in my recent columns....472 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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