A lecture by Jeffrey Lacker '77, president of the Federal Reserve Bank of Richmond
Sponsored by Department of Economics
Tuesday, February 12, 2013
As the crisis in housing and financial markets began to unfold in mid-2007 and then intensified over the next two years, the Federal Reserve responded aggressively.
During the crisis, policymakers struggled to diagnose financial market functioning and debated alternative policy strategies. Competing policy perspectives often derived from insights developed in formal academic work in economics.
Dr. Jeffrey Lacker '77, president of the Federal Reserve Bank of Richmond, was a participant in many of those deliberations, and will discuss the ways in which economic reasoning influenced policymakers' views on financial market functioning during the crisis. Distinct models of financial market behavior provided sharply different guidance regarding the appropriate policy response.
Lacker received his bachelor's degree in economics from Franklin & Marshall College in 1977. He went on to earn a Ph.D. from the University of Wisconsin in 1984.
He took office as president on August 1, 2004 as the seventh chief executive of the Fifth District Federal Reserve Bank, in Richmond, Virginia. He is currently serving a full term that began March 1, 2011.
Dr. Lacker is the author of numerous articles in professional journals on monetary, financial, and payment economics, and has presented his work at several universities and central banks.
Sponsored by the Department of Economics and the Wayne K Van Dyck Fund.
This event is open to the public.