Jeffery M. Lacker Quotes

Monetary policy and fiscal policy are inseparable.

Well, I think as long as people are talking about stimulus, I think the Fed will be thinking about cutting rates because monetary policy is the better way to go because you can turn it on and turn it off.

The government must do all it can to help reduce interest rates for business.

I reject the advice of those who think the only way to fight inflation is to throw millions of people out of work .... I guarantee you that I will not fight inflation with your jobs.

The Fed [Federal Reserve System], whether it likes it or not, is required to provide adequate reserves to the banking system in order for the government to finance its needs, even when that is inflationary.

We are all Keynesians now.

Whip Inflation Now

For too long, our nation has relied on low interest rates rather than undertaking the necessary long term necessary economic reforms.

Whatever the economy needs to maintain itself, the government will do it.

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.

The Fed is totally open.

The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.

In all modesty, we must admit that governments are not always the best doctors when it comes to diagnosing economic ailments and prescribing the right treatment.

The Federal Reserve cannot solve all the economy's problems on its own.

Monetary policy itself cannot sensibly be directed at reducing imbalances.

It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?

I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation.

Long before folks fretted the demise of 'quantitative easing,' I fretted its existence. It proved the reverse of its image, an antistimulus, and we've done okay not because of it, but despite it.

Monetary policy is not a panacea.

There is no left or right in economic management today.

I don't know of any President, now or in the past, who does not favor lower interest rates. That's the American way.

There isn’t that much that Washington can do to effect the economy.

Our purpose is to lean against the winds of deflation or inflation, whichever way they are blowing.

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.