Larry Kudlow
In an interview with CNBC's Maria Bartiromo yesterday, Richmond Fed president Jeffrey Lacker refused to offer any clear sign as to when the central bank might finally end its zero-bound policy and begin raising rates. When asked whether he was worried about future inflation, Lacker said he thinks "we're in a good place with inflation right now." And when asked whether the U.S. would move to lift rates in 2010, he said, "It could take longer than that."
Look, I would have asked Lacker if the Fed will tighten policy in my lifetime. He wouldn't even commit to 2010.
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