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Lacker: Congress May Need to Limit Fed Lending Powers

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  • Description

    FBN’s Peter Barnes on comments made by Richmond Fed President Jeffrey Lacker.

  • Duration 1:15
  • Date

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The Fed presidents one of the principal -- is says that congress should step in and stop the Fed from printing up us a ton of money.

Beta bonds has this story this is breaking right now hot and now I just think -- you'll do that with a brief a couple of sentences of about it right.

You do story and Geoffrey lacquer as an inflation hawk president of the Federal Reserve Bank of Richmond hedges that and a voting member of the FMC he's been highly critical.

Of all this loose money policy by the Fed QE3 and everything else.

He's worried that -- constrained credit policy.

Will create what he calls -- thorny problems for.

The economy down the road and he says that the Fed should look at.

Checking its own lending policy and if not quote one could imagine legislation that limits the Fed to a narrowly defined set of ordinary lending activities.

Very short lending to sound solvent banks against good collateral at rates above market rates and if the Fed cannot limit credit policy of its own.

I'll cork legislation may be the best option he sounds like Ron Paul -- Good -- it sounds like he wants congress to really in the Fed quit the money -- good stuff they don't thank -- and on our -- breaking it letter -- appreciate it you back to.

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