Jeffrey M. Lacker became the seventh president of the Federal Reserve Bank of Richmond on August 1, 2004. He retired on April 4, 2017.
Lacker is a native of Lexington, Kentucky. He received a bachelor’s degree in economics from Franklin & Marshall College in 1977. Following graduation, he joined Wharton Econometrics in Philadelphia, Pennsylvania, and went on to earn a doctorate in economics from the University of Wisconsin in 1984.
Lacker was an assistant professor of economics at the Krannert School of Management at Purdue University from 1984 to 1989 before joining the Richmond Fed in 1989 as an economist in the banking area of the Research Department. He was named research officer in 1994, vice president in 1996, and senior vice president and director of research in May 1999. While at the Richmond Fed, he taught at The College of William and Mary from 1992 to 1993, and was a visiting scholar at the Swiss National Bank in 1997.
As Richmond Fed president, Lacker had four rotations as a voting member of the Federal Open Market Committee ― 2015, 2012, 2009, and 2006. He cast eight dissenting votes during the FOMC meetings in 2012.
Lacker has authored numerous articles on monetary, financial, and payment economics, which have been published in professional journals. He also has presented papers and speeches at universities and central banks worldwide, on topics such as financial stability and central banking policy.
Active in the local community, Lacker serves as director for the boards of the Council for Economic Education and the World Affairs Council of Greater Richmond. He is also a member of the advisory board of ROSMY, and serves on the University of Richmond board of trustees. Lacker previously served as a member of the executive committee of Venture Richmond and as director for the board of Richmond’s Future.
Lacker and his wife, Lisa Halberstadt, have two sons.
Written by the Federal Reserve Bank of Richmond. See disclaimer.