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<title>2006 Speech Archive - Federal Reserve Bank of Richmond</title>
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<copyright>© Federal Reserve Bank of Richmond</copyright>
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<title>2006 Speech Archive - Federal Reserve Bank of Richmond - Federal Reserve Bank of Richmond</title>
<url>http://www.richmondfed.org</url>
<link>http://www.richmondfed.org/press_room/speeches/president_jeff_lacker/2006/index.cfm</link>
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<itunes:name>Federal Reserve Bank of Richmond</itunes:name>
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<title>The Regional Economic Outlook</title>
<link>http://www.richmondfed.org/press_room/speeches/president_jeff_lacker/2006/lacker_speech_20061011.cfm</link>
<description><![CDATA[It is a pleasure to be with you today to discuss the economic outlook for the region. I work, as Barbara&amp;rsquo;s kind introduction noted, at the Federal Reserve Bank of Richmond. The fact that our nation&amp;rsquo;s capital lies within the Richmond Federal Reserve District, rather than the other way around, is an odd byproduct of decisions made over 90 years ago. When establishing the Federal Reserve System as the nation&amp;rsquo;s central bank, Congress created a confederation of regional banks, rather than a single, centrally located bank. The founding organizers then made Richmond the headquarters for the Fifth Federal Reserve District, which covers the area from West Virginia and Maryland in the North down to the Carolinas in the South. The founders&amp;rsquo; motivating vision was that the nation was better served by an institution that was closely linked to the diverse economies that make up our country. And so, one of our key responsibilities at the Reserve Banks is to understand local economic conditions around our Districts. Of course, the Fed is well represented inside the beltway, since Washington is the home of the Board of Governors of the Federal Reserve System, the entity that oversees Reserve Bank activities. They are kind enough to let me roam Washington at will, and we are kind enough to cut their paychecks for them.



]]></description>
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<pubDate>Wed, 11 Oct 2006 12:00:00 EST</pubDate>
<itunes:author>Federal Reserve Bank of Richmond</itunes:author>
<itunes:explicit>no</itunes:explicit>
<itunes:subtitle>The Regional Economic Outlook</itunes:subtitle>
<itunes:summary><![CDATA[It is a pleasure to be with you today to discuss the economic outlook for the region. I work, as Barbara&amp;rsquo;s kind introduction noted, at the Federal Reserve Bank of Richmond. The fact that our nation&amp;rsquo;s capital lies within the Richmond Federal Reserve District, rather than the other way around, is an odd byproduct of decisions made over 90 years ago. When establishing the Federal Reserve System as the nation&amp;rsquo;s central bank, Congress created a confederation of regional banks, rather than a single, centrally located bank. The founding organizers then made Richmond the headquarters for the Fifth Federal Reserve District, which covers the area from West Virginia and Maryland in the North down to the Carolinas in the South. The founders&amp;rsquo; motivating vision was that the nation was better served by an institution that was closely linked to the diverse economies that make up our country. And so, one of our key responsibilities at the Reserve Banks is to understand local economic conditions around our Districts. Of course, the Fed is well represented inside the beltway, since Washington is the home of the Board of Governors of the Federal Reserve System, the entity that oversees Reserve Bank activities. They are kind enough to let me roam Washington at will, and we are kind enough to cut their paychecks for them.



]]></itunes:summary>
<author> (Federal Reserve Bank of Richmond)</author>
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<title>The Economic Outlook</title>
<link>http://www.richmondfed.org/press_room/speeches/president_jeff_lacker/2006/lacker_speech_20060404.cfm</link>
<description><![CDATA[It is a pleasure to speak on the economic outlook this morning, in part due to this distinguished Ohio Valley audience, and in part because the outlook is so encouraging. Growth is proceeding on a solid pace this year, and inflation is low and stable. Moreover, our economy has withstood several substantial shocks over the last several years, and yet has remained on course. So, I think we have abundant reason to be grateful for a quite positive economic outlook. Before I begin reviewing that outlook, however, I would like to note, as usual, that the views expressed are my own and are not necessarily those of my colleagues in the Federal Reserve System.



]]></description>
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<pubDate>Tue, 4 Apr 2006 23:59:00 EST</pubDate>
<itunes:author>Federal Reserve Bank of Richmond</itunes:author>
<itunes:explicit>no</itunes:explicit>
<itunes:subtitle>The Economic Outlook</itunes:subtitle>
<itunes:summary><![CDATA[It is a pleasure to speak on the economic outlook this morning, in part due to this distinguished Ohio Valley audience, and in part because the outlook is so encouraging. Growth is proceeding on a solid pace this year, and inflation is low and stable. Moreover, our economy has withstood several substantial shocks over the last several years, and yet has remained on course. So, I think we have abundant reason to be grateful for a quite positive economic outlook. Before I begin reviewing that outlook, however, I would like to note, as usual, that the views expressed are my own and are not necessarily those of my colleagues in the Federal Reserve System.



]]></itunes:summary>
<author> (Federal Reserve Bank of Richmond)</author>
</item>
<item>
<title>Transition and Continuity at the Federal Reserve in 2006</title>
<link>http://www.richmondfed.org/press_room/speeches/president_jeff_lacker/2006/lacker_speech_20060214.cfm</link>
<description><![CDATA[I would like to talk to you tonight about the evolution in the way the Federal Reserve goes about conducting monetary policy. As my title suggests, one theme is that a transition is taking place. Of course, the most striking transition at the Federal Reserve this year is the change in leadership. On January 31, Federal Reserve Board Chairman Alan Greenspan served his last day in office and chaired his last meeting of the Federal Open Market Committee. His successor, Ben Bernanke, took over the following day, and tomorrow morning, he delivers his first testimony to Congress as chairman.



]]></description>
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<pubDate>Tue, 14 Feb 2006 23:59:00 EST</pubDate>
<itunes:author>Federal Reserve Bank of Richmond</itunes:author>
<itunes:explicit>no</itunes:explicit>
<itunes:subtitle>Transition and Continuity at the Federal Reserve in 2006</itunes:subtitle>
<itunes:summary><![CDATA[I would like to talk to you tonight about the evolution in the way the Federal Reserve goes about conducting monetary policy. As my title suggests, one theme is that a transition is taking place. Of course, the most striking transition at the Federal Reserve this year is the change in leadership. On January 31, Federal Reserve Board Chairman Alan Greenspan served his last day in office and chaired his last meeting of the Federal Open Market Committee. His successor, Ben Bernanke, took over the following day, and tomorrow morning, he delivers his first testimony to Congress as chairman.



]]></itunes:summary>
<author> (Federal Reserve Bank of Richmond)</author>
</item>
<item>
<title>The Economic Outlook for 2006</title>
<link>http://www.richmondfed.org/press_room/speeches/president_jeff_lacker/2006/lacker_speech_20060120.cfm</link>
<description><![CDATA[It is a pleasure to be with you today to discuss the economic outlook for 2006 and beyond. It is a pleasure, in part, because the economic outlook is fairly encouraging. Growth is on a solid footing, despite this year&amp;rsquo;s run-up in energy prices and the disruptions of a devastating hurricane season. And after a brief pause this fall, employment is expanding again at a healthy pace, consumer spending continues to grow briskly, and business investment spending is robust. Granted, housing activity seems to be softening, and at least some potential price level pressures remain, so it may be too soon to break out the champagne. But inflation expectations remain contained, and we at the Fed are well-positioned to resist inflation pressures, should they emerge.

]]></description>
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<pubDate>Fri, 20 Jan 2006 23:59:00 EST</pubDate>
<itunes:author>Federal Reserve Bank of Richmond</itunes:author>
<itunes:explicit>no</itunes:explicit>
<itunes:subtitle>The Economic Outlook for 2006</itunes:subtitle>
<itunes:summary><![CDATA[It is a pleasure to be with you today to discuss the economic outlook for 2006 and beyond. It is a pleasure, in part, because the economic outlook is fairly encouraging. Growth is on a solid footing, despite this year&amp;rsquo;s run-up in energy prices and the disruptions of a devastating hurricane season. And after a brief pause this fall, employment is expanding again at a healthy pace, consumer spending continues to grow briskly, and business investment spending is robust. Granted, housing activity seems to be softening, and at least some potential price level pressures remain, so it may be too soon to break out the champagne. But inflation expectations remain contained, and we at the Fed are well-positioned to resist inflation pressures, should they emerge.

]]></itunes:summary>
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