Appointment of Jeffrey M. Lacker as President, Federal Reserve Bank of Richmond.Jeffrey M. Lacker Jeffrey M. Lacker is a member of the Fed, whose vote was the solitary dissent in the Federal Open Market Committee (FOMC) meetings in August, September, October, and December of 2006. The FOMC decided to keep interest rates steady at 5. has been appointed president of the Federal Reserve Bank of Richmond The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia . It covers the District of Columbia, Maryland, Virginia, North Carolina, South Carolina and most of West Virginia. , effective August 1, 2004. He succeeds J. Alfred Alfred, 849–99, king of Wessex (871–99), sometimes called Alfred the Great, b. Wantage, Berkshire. Early Life The youngest son of King Æthelwulf, he was sent in 853 to Rome, where the pope gave him the title of Roman consul. Broaddus, Jr., who last November, announced his intention to retire. Lacker is currently senior vice president and director of research at the Federal Reserve Bank of Richmond. The appointment was made by the Board of Directors of the Federal Reserve Bank of Richmond and approved by the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. in Washington, D.C. Wesley S. Williams, Jr., Chairman of the Federal Reserve The Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States and one of the most important decision-makers in American economic policies. Bank of Richmond's Board of Directors, made the announcement on June 17, 2004. Commenting on the announcement, Williams said, "After conducting a nationwide search, I am pleased to say that Jeff Lacker, the Bank's current director of research, proved to be a natural choice to lead the Federal Reserve Bank of Richmond. Jeff is a respected economist with sound knowledge of monetary policy, the nation's banking system, and the Federal Reserve's role in the payments system. Jeff has the rare combination of knowledge and Federal Reserve experience to provide the vision needed in facing the challenges of the future. Additionally, he is a brilliant manager, and is uniquely attuned to the community development responsibilities of the Federal Reserve Banks and System. My colleagues on the Richmond Fed board concluded that Jeff was clearly the best possible choice to carry forward the laudable traditions of this great institution, and to serve our Fifth District communities." Williams also expressed appreciation to A1 Broaddus for his thirty-four years of service to the Federal Reserve Bank of Richmond, and for his countless contributions to the Federal Reserve System. Broaddus turned sixty-five in July, the age at which Federal Reserve Bank presidents usually retire. "It has been a great pleasure working with A1 Broaddus," Lacker said. "He leaves behind an outstanding legacy of contributions to monetary policy, the Richmond Fed, and the Federal Reserve System. I am honored to have been chosen for this post, and I look forward to working with community, business, and banking leaders around the District." Lacker is only the seventh person to lead the Richmond Federal Reserve Bank in its ninety-year history. "I have known and worked closely with Jeff for many years," Broaddus said. "He is a strong and collegial leader and an excellent economist. He is a superb choice to lead our Bank on the next stage of its long journey of distinguished public service." Jeff Lacker, forty-eight, is a graduate of Franklin and Marshall College Franklin and Marshall College, at Lancaster, Pa.; United Church of Christ (Evangelical-Reformed); coeducational; est. 1787 as Franklin College, reorganized 1853 when it merged with Marshall College (chartered 1836). and received a Ph.D. in economics from the University of Wisconsin Wisconsin, state, United States Wisconsin (wĭskŏn`sən, –sĭn), upper midwestern state of the United States. It is bounded by Lake Superior and the Upper Peninsula of Michigan, from which it is divided by the Menominee . Lacker was an assistant professor of economics at the Krannert School of Management This article is about Krannert School of Management. For Krannert Center for the Performing Arts, see Krannert Center for the Performing Arts. The Krannert School of Management is Purdue University's school of management. , Purdue University Purdue University (pərdy  `, -d`), main campus at West Lafayette, Ind. , from 1984 to 1989. He
joined the Bank in 1989 as an economist in the banking area of the
Research Department. Lacker was named research officer in 1994, vice
president in 1996, and senior vice president and director of research in
May 1999.
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