Terry has been condemned over his outburst against England coach Fabio Capello.
"So John normally hits the nail on the head and we should all be happy about that.
"Certainly at Chelsea all the fans and the players are very happy we have got a captain who will do that."
Lampard, who celebrated his 32nd birthday yesterday, added: "I've been here with Chelsea and England, you always have your up and down moments regardless of what manager you have.
"That's exactly the same with England.
"But this manager has complete respect from everybody and he respects all the players here as well."