[Author's note: as I composed this essay, unbeknownst to me, some clever devil in the Trump administration thought it wise to change the geographic designations of President Trump's current nominees to the Fed's Board of Governors. Thus Judy Shelton, who in the January 16th nomination announcement was…
This year’s Federal Open Market Committee (FOMC), which meets for the first time this week, faces many unknowns, including new faces at the Fed. In fact, by year’s end, the Fed’s rate-setting body will have, at most, only two continuity voters — that is, members who voted…
Federal Reserve Chair Janet Yellen recently appeared before the Senate Banking Committee to deliver the Semiannual Monetary Policy Report to the Congress. A handful of Senators queried Yellen as to the lack of diversity among both the Fed staff and the members of the Federal Open Market…