There is undeniably an openness to further easing at some point among the Federal Reserve leadership and most members of the Board of Governors, but not now.
Among this year's other FOMC voters, only Richmond Federal Reserve Bank President Jeffrey Lacker has expressed clear opposition. Last Friday he said he does not "see a compelling case for further stimulus. The record over the last year and a half is that stimulus raised inflation and didn't do much for growth on a sustained basis. I think if we did it again, that's what would happen."
Others are more ambivalent. Atlanta Federal Reserve Bank President Dennis Lockhart said Jan. 9 that he continues to "harbor some skepticism whether a new round of quantitative easing would be highly effective." But he added, "I am not foreclosing that as an option.
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