Correspondent, Chicago
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May 31, 2014

Fed officials say rates should not be used to fight bubbles

By Ann Saphir

PALO ALTO Calif. (Reuters) – A trio of Federal Reserve officials who disagree deeply with one another over the appropriate stance of monetary policy on Friday expressed a shared distrust for using interest rates to head off asset bubbles and other forms of financial instability.

Both Richmond Fed President Jeffrey Lacker, a policy hawk, and San Francisco Fed President John Williams, a centrist, told reporters after a policy conference here that they would not want to risk unmooring the public’s expectation that inflation will rise back to the Fed’s 2 percent goal in the next few years.

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    • About Ann

      "Coverage includes Federal Reserve regional banks, U.S. monetary policy, interest-rate futures markets, and financial exchanges and clearinghouses serving the derivatives marketplace, including CME Group."
      Joined Reuters:
      2010
      Languages:
      English, Japanese
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