Northwest Voices | Letters to the Editor
Federal Reserve's attempt at economic stimulation harmful, says critic
Jeffery Lacker represents bankers, not people
”Fed efforts on economy harmful, dissenter warns,” [Business, Jan. 14] needs several questions asked and answered before it can be a viable story.
What is today’s inflation?
What is today’s interest rate?
What was the inflation rate in 2005?
What was the interest rate in 2005?
Who does the Federal Reserve really concern itself about, the people or financial institutions?
The reality is the United States capitalistic society needs a rest from biased political decisions. It needs more cooperation from both sides. It also needs to get away from the investors’ idea that growth is totally dependent on year-to-year sell increases and higher interest rates for best results. Remember one thing: the higher the inflation rate (cost of living) the higher investor interest rates.
What Lacker wants is a fast recovery. Remember, he represents the bankers and not the people. There is one “quip” that stands out. The faster the recovery the faster it will fail.
--Jim Morris, Renton