Federal Reserve Bank of Richmond President Jeffrey Lacker said fully separating guidance on when the central bank will end asset purchases from when it will raise interest rates is impossible because both depend on what economic reports show.
Federal Reserve Bank of Richmond President Jeffrey Lacker said income inequality has increased in recent years because of the rising importance of a college degree and advanced skills for U.S. employers.
U.S. stocks declined, following two days of gains that sent the Standard & Poor’s 500 Index to within five points of a record high, as investors awaited this week’s data on economic growth and employment.
Federal Reserve Bank of Richmond President Jeffrey Lacker said the “Great Inflation” of the late 1960s to early 1980s underscored the era’s key lesson that the Fed must remain independent from political pressures.
Federal Reserve Bank of Richmond President Jeffrey Lacker said consumer-spending growth probably can’t exceed a 2 percent pace as labor-market gains are offset by Americans still worried about spending and employment.
Federal Reserve Bank of San Francisco President John Williams said economic growth in recent months has fallen short of his expectations, partially eroding his confidence gains in the labor market will endure without monetary stimulus.
Australia’s dollar pared declines that have it on course for the biggest weekly loss since August after a Chinese report showed manufacturing strengthened last month at a quicker pace than economists had forecast.