Fed's Lacker undecided on credit product boom

An explosion in the range of credit products available to Americans creates benefits for the economy but also creates risks for financially inexperienced borrowers, Richmond Fed chief Jeffrey Lacker said on Monday 17 October.

Richmond Federal Reserve President Jeffrey Lacker, in remarks to a seminar on financial literacy at the Richmond Fed, did not discuss the current economy, although he noted the U.S. central bank's job was to keep inflation at bay.

"The Federal Reserve is charged with conti

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