Ex-Fed official Lacker warns Powell in ‘tough spot’ on inflation
Federal Reserve Chair Jerome Powell risks inflation getting out of control and his assurance that the central bank can keep it in check neglects to mention this would require traumatic surgery, said former Richmond Fed President Jeffrey Lacker.
Lacker, now a professor at Virginia Commonwealth University, said he was glad Powell had used part of his speech on Friday to the Fed’s annual Jackson Hole symposium to assure Americans that the central bank had the tools to tackle persistently too-high inflation.