The Fed's critic and defender: Jeffrey Lacker reflects on 28 years at the Federal Reserve Bank (Richmond Times-Dispatch)
March 1, 2017
When Jeffrey M. Lacker retires later this year from a 28-year career at the Federal Reserve Bank of Richmond, he’ll leave behind quite a bit for historians to chew on.
Lacker’s 13-year term as president and chief executive officer of the Richmond Fed has been marked by the worst financial crisis and recession since the Great Depression of the 1930s. It led the nation’s central bank to take extraordinary and unprecedented steps to rescue financial firms and stimulate the flagging economy, from buying troubled mortgage-backed securities to dropping interest rates to historic lows of near zero for seven years.