CHARLESTON, W.Va. -- Jeffrey Lacker's scheduled visit to Charleston in November promises to be especially newsy.
Lacker is president of the Federal Reserve Bank of Richmond, which serves most of West Virginia plus the District of Columbia, Maryland, North and South Carolina and Virginia. He is scheduled to present the outlook for the U.S. economy at this year's West Virginia Economic Outlook Conference, Nov. 15 at the Charleston Civic Center.
Two factors make Lacker's views on the economy especially notable:
The latest example of this came Sept. 13. The FOMC, faced with ongoing high unemployment and a sluggish economy, voted to buy $40 billion of mortgage-backed securities every month until the job market improves. The committee didn't set a limit on how much would be bought or the duration of the purchases. The committee did say it would keep short-term interest rates low through mid-2015.
The vote was 11-1.