Richmond Fed’s Lacker Resigns Amid 2012 Leak Probe

The transcript discusses Jeffrey Lacker's career at the Richmond Fed, his involvement in a controversy regarding the release of confidential information, and the subsequent investigation. It highlights Lacker's role in the FOMC, his hawkish stance on inflation, and the process of selecting his successor. The discussion also touches on transparency issues within the Federal Reserve and interactions with market analysts.

What was the main reason for the investigation into Jeffrey Lacker's actions?

• He was accused of embezzlement.

• He resigned from his position unexpectedly.

• He inadvertently released confidential information.

• He was involved in a financial scandal.

How was Jeffrey Lacker's stance on inflation described during his time in the FOMC?

• Hawkish

• Neutral

• Dovish

• Indifferent

What is the process for selecting a new president for the Richmond Fed?

• The current president appoints a successor.

• The public votes for a new president.

• A search firm is appointed to find candidates.

• The Federal Reserve Board directly selects a candidate.

What role does Medley play in the financial markets?

• It is a financial advisory firm.

• It is a government agency.

• It publishes macroeconomic policy intelligence.

• It is a regulatory body.

What was the main concern regarding the information Lacker confirmed?

• It was already publicly available.

• It was inaccurate.

• It was non-public and could lead to insider trading.

• It was outdated.