Recovery 'Sustainable,' No Double-Dip: Fed's Lacker

[Topspin]

Recovery 'Sustainable,' No Double-Dip: Fed's Lacker
Published: Tuesday, 6 Apr 2010 * 7:53 AM ET Text Size By: CNBC.com
The US recovery is "sustainable" and the economy is unlikely to see another dip, Jeffrey Lacker, President of the Federal Reserve Bank of Richmond, told CNBC Tuesday.


Jeffrey Lacker
“Friday’s employment report is evidence that the labor market is bottoming out,” Lacker said .

US nonfarm payrolls rose 162,000 in March, after February’s drop of 36,000. The unemployment rate held steady at 9.7 per cent for the third straight month, as expected.

Addressing public jitters over the Fed potentially raising the discount rate, Lacker indicated that there are huge amounts of reserves in the system, and that general sentiment is that the spread (between the discount rate and the fed funds rate) ought to remain at 50 (0.50 percentage points), rather than 100 basis points.

“We won’t know what normal spread is until reserves are back to their normal operating range ,” Lacker said.


RELATED LINKS
Current DateTime: 04:56:16 06 Apr 2010
LinksList Documentid: 36190147
Is Geithner's Visit to India Actually a Roadshow?US, India Must Push for Balanced Growth: GeithnerUS Received 8.5% Return From Bailouts?Yuan Move Will Yield Limited US Benefits
Futures retreated this morning ahead of the FOMC minutes, which will be announced at 2 pm ET today.

 

[Damocles]

From his fingers to the money gods'....

 

[evince]

Good thing there was a stim package, too bad it wasnt bigger as originally planed.

 

[Topspin]

Good thing there was a stim package, too bad it wasnt bigger as originally planed.

I read up on the breakdown, and it's a green energy, education and smart grid lovers dream.

It's going to be comical the squirming in 3 years when you compare Obama's economic numbers to Bush's.

 

[Cypress]

Good thing there was a stim package, too bad it wasnt bigger as originally planed.

Wrong.

Obama just got lucky.

We should have massively cut government spending and outlays, not had a stimulus bill, slashed and cut public spending, and laid off government workers, per the Sarah Palin/John McCain/Message Board conservative plan. That would have totally energized the economy.

 

[Topspin]

Wrong.

Obama just got lucky.

We should have massively cut government spending and outlays, not had a stimulus bill, slashed and cut public spending, and laid off government workers, per the Sarah Palin/John McCain/Message Board conservative plan. That would have totally energized the economy.

dammit, posting while burning tree. Cypress I hate U!!!

 

[Sammy Jankis]

Juicing the economy with fake money is an illusion.

 

[Chapdog]

Juicing the economy with fake money is an illusion.

we are all part of the matrix. you will be dead before the illusion is over.

 

[Cancel 2016.2]

Good thing there was a stim package, too bad it wasnt bigger as originally planed.

It takes a complete moron to suggest the stimulus should have been bigger when two thirds of the package that did pass still hasn't been used.