now remarks by jeffrey lacker, president of the federal reserve bank of richmond. he spoke to a gathering of the maryland bankers association in baltimore. this is about 45 minutes. >> in 2009, he served as a voletting member of the federal open market committee. as a member of this committee, dr. lacker was involved in decision making process that determined not only the fed funds rate, but decisions that affected interest rates in general, foreign exchange rates, employment, and the general level of prices of goods and services. many of you were at this event last year and heard dr. lacker as he started in this role. we are certainly looking forward to hearing what he has to say about 2010. and he has agreed to take questions, so questions come to mind during his presentation, write them down and he will try to answer them for you. dr. lacker. [cheers and applause] >> thank you rick for that great introduction. it's a great pleasure. after last year's invitation, i want to thank rick and kathleen murray, head of the association who does a great job in that role,

part of book tv. >> jeffrey lacker president of the richmond federal reserve bank says that the recession has ended. he also talks about financial regulations legislation making its way through congress. this eept is hosted by the maryland bank ergs association and is 45 minutes. >> dr. lacker was involved that determined not only the fed funds rate but decisions that affected interest rates in general, foreign exchange rates, employment and the general level of prices of goods and services. many of you were at this event last year and heard dr. lacker as he started in this role. we are certainly looking forward to hearing what he has to say about 2010 and he has agreed to take questions. so if questions come to mind during his presentation, write them down and he will try to answer them for you. dr. lacker. [applause] >> it's a great pleasure to be here with you again. i want to thank rick and kathleen murphy, head of the maryland bankers association who does a great job for inviting me back here again. it's a pleasure to stage with -- share the stage -- [laughter] >> i did catch his ass