Jeffrey M. Lacker

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Jeffrey M. Lacker is a member of the Fed, whose vote was the solitary dissent in the Federal Open Market Committee (FOMC) meetings in August, September, October, and December of 2006. The FOMC decided to keep interest rates steady at 5.25 per cent after a series of seventeen consecutive increases of twenty-five basis points each.

Dr. Lacker took office on August 1, 2004, as the seventh chief executive of the Fifth District Federal Reserve Bank at Richmond.[1] He is serving the remainder of a term that began on March 1, 2001. In 2006, he serves as a voting member of the Federal Open Market Committee, bringing his District's perspective to policy discussions in Washington.

Dr. Lacker was born September 27, 1955, in Lexington, Kentucky. He received his bachelor’s degree in economics from Franklin and Marshall College in 1977. Following graduation, Dr. Lacker joined Wharton Econometrics in Philadelphia. He went on to earn a Ph.D. in economics from the University of Wisconsin-Madison in 1984. Dr. Lacker was an assistant professor of economics at the Krannert School of Management at Purdue University from 1984 to 1989. He joined the Bank in 1989 as an economist in the banking area of the Research Department. He was named research officer in 1994, vice president in 1996, and senior vice president and director of the Research Department in May 1999.

Dr. Lacker is the author of numerous articles in professional journals on monetary, financial, and payment economics, and has presented his work at several universities and central banks. He taught at The College of William and Mary in 1992 and 1993, and in 1997 he was a visiting scholar at the Swiss National Bank.

Dr. Lacker serves as director for the board of the Richmond Jewish Foundation. He is also a member of the Junior Achievement of Central Virginia Advisory Board and is director of the World Affairs Council of Greater Richmond.