I expect investment spending to be quite robust this year.
More Quotes from Jeffrey Lacker:
Growth is proceeding on a solid pace this year, and inflation is low and stable. Plausible rates of moderation in housing activity will not pose a problem for overall activity this year or next.Jeffrey Lacker
Thus, whenever the current sequence of tightening moves reaches completion, short-term interest rates should not be expected to remain constant for an extended period of time.
Jeffrey Lacker
Moreover, I don't see diminished housing-price appreciation as a major problem for consumer spending, since again, the primary determinant of spending is income, and we see solid and improving prospects for real incomes for the nation as a whole.
Jeffrey Lacker
Both survey data and the market prices of inflation-protected Treasury securities tell us that the public expects inflation to continue to be contained. I am confident that we at the Fed have the knowledge and the will to validate those expectations.
Jeffrey Lacker
Monetary policy should respond to energy shocks by remaining focused on price stability. I think it is too soon to declare that 'pass-through risk' is entirely behind us.
Jeffrey Lacker
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