Markets - Market News
Jeffrey Lacker Sees Perception That Fed Credit Policy 'Adrift'
Market News International | Tuesday, November 20, 2012
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Richmond Federal Reserve Bank President Jeffrey Lacker raised strenuous objections to both the Fed's asset purchases and its communications strategy Tuesday, while suggesting that the central bank's credit policy is "adrift."

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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