RICHMOND, Va.,Jan 31 (Reuters) - Richmond Federal Reserve President Jeffrey Lacker said on Saturday he dissented against the Fed's policy decision of last week because he is concerned the U.S. central bank should not get directly involved in credit market support.
However, Lacker said his decision was not 'against expansive monetary policy,' which he said was warranted by the severe recession confronting the U.S. economy.
'I am comfortable with the monetary base about where it is now,' Lacker told reporters on the sidelines of an economics conference hosted by Richmond University.
(Reporting by Alister Bull, editing by Gary Crosse) Keywords: FED LACKER
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
However, Lacker said his decision was not 'against expansive monetary policy,' which he said was warranted by the severe recession confronting the U.S. economy.
'I am comfortable with the monetary base about where it is now,' Lacker told reporters on the sidelines of an economics conference hosted by Richmond University.
(Reporting by Alister Bull, editing by Gary Crosse) Keywords: FED LACKER
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.