Central bank intervention in credit markets threatens independence, says Fed's Lacker


Jeffrey Lacker, president of the Richmond Federal Reserve, on Wednesday warned measures by the Federal Reserve to provide assistance to dysfunctional segments of credit markets may jeopardise the central bank's independence.

At the CATO Institute's 29th Annual Monetary Conference in Washington, DC, Lacker said: "The ability of a central bank to intervene in credit markets using the asset side of its balance sheet creates an inevitable tension. The desire of the executive and legislative branches

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