In a speech this afternoon, Richmond Federal Reserve Bank President Jeffrey Lacker was quoted as saying: “The economy appears to have stabilized and may not need all the stimulus the central bank had planned to offer,” Lacker is a member of the Monetary Policy panel and as such his opinion carries a lot of weight as his vote counts towards steering the Fed’s Strategies going forward.
The US Central Bank has received a great measure of positive feedback in the last couple of weeks, first with the intention of reappointing Ben Bernanke as Governor and second as GDP Data signals stability for the time being.
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