One of Wall Street’s toughest Capitol Hill critics is again trying to keep bankers off the boards of directors for regional Federal Reserve banks, calling the practice a “clear conflict of interest.”
Federal Reserve minutes from its April 30-May 1 policy meeting suggested it is heading toward some difficult debates on when to pull back its bond buying program.
Federal Reserve Chairman Ben Bernanke made clear Wednesday in testimony to the Joint Economic Committee that the exit from the Fed’s $85 billion-a-month bond buying program will be much different than past Fed exits.
Fed Chairman Bernanke testified before Congress's Joint Economic Committee Wednesday where he discussed the recovery's progress and his economic outlook.
Global central banking has become more complicated than ever. Jessica Einhorn, resident at The Rock Creek Group in Washington and former dean of Johns Hopkins University's Paul H. Nitze School of Advanced International Studies, uses poetry to break down the situation.
A Fed official at the heart of the monetary-policy decision-making process said he's open to changing the pace of central bank bond buying when economic conditions warrant, although he added an uncertain outlook means it's still unclear whether the purchases should be boosted or cut.
The Federal Reserve should press forward with its bond-buying campaign, but be willing to change its size to reflect shifting economic currents, a U.S. central bank official said.
Even though there are signs of recovery in the U.S. economy, there are no signs the Federal Reserve will turn off its monetary stimulus anytime soon, Chicago Fed President Evans said..
