Richmond Fed President Jeffrey Lacker told CNBC on Thursday that if you made him "dictator," the Federal Reserve would stop its massive bond purchases. He added that evidence is "sketchy" on whether the quantitative easing program has actually helped the nation's job picture.
"I wouldn't have gone down this asset-purchase path. I'm in the camp that we should taper and stop right now," Lacker said in a "Squawk Box" interview from the 2013 Credit Markets Symposium in Charlotte, N.C. "You have to prepare markets, if it was up to me, if you made me dictator, that's what I would do."
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The central bank is currently buying $85 billion of Treasurys and mortgage-backed securities each month.
The further the Fed goes down the QE route, the trickier the exit process gets, argued Lacker, who said the Fed will err on the side of small steps when tapering purchases. He also pointed out there's a range of views on that exit strategy, and the Fed's minutes have done a faithful job of portraying that debate.