• Is exceptionally smart
  • Must defend inflation goal from both sides
  • More certainty on federal fiscal plan needed for growth
  • Fed independence is delicate and needs to be preserved
  • Washington actions remain a wet blanket on growth
  • Doesn’t see downside risks elevated now vs recent past
  • Says Jan-March may be good time to taper

Richmond Fed’s Jeffrey Lacker is taking Q&A in Asheboro, North Carolina