Richmond Federal Reserve Bank President Jeffrey Lacker said on Tuesday he would have "stood pat" on monetary policy at last week's Fed meeting.

Lacker was the lone dissenter to the Fed's decision to buy $40 billion in mortgage-backed securities a month in order to bolster the economy.

Lacker was responding to audience questions following a speech in which he said that the new bond buying threatens a spike in inflation that would hurt the U.S. central bank's credibility.

(Reporting by Leah Schnurr; Editing by Leslie Adler)