Items Tagged with 'Federal Reserve Board of Governors'


  • Fed Vice Chairman Randal Quarles to recuse himself from Wells Fargo matters

    Action taken to “avoid even the potential appearance of a conflict of interest”
    Aiming to avoid “even the potential appearance of a conflict of interest,” Federal Reserve Vice Chairman will recuse himself from matters involving Wells Fargo, the Fed announced Friday. Quarles said that he sold all of his stock in Wells Fargo after being confirmed as a Fed governor, but added that he is taking this “voluntary” step even though he is not legally required to.
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  • Mohamed El-Erian talks rate hikes, future of the Fed, state of housing

    Chief economic advisor at Allianz shares economic views at MBA Annual
    Speaking at the Mortgage Bankers Association Annual Convention in Denver, Mohamed El-Erian, the chief economic advisor for Allianz and the former chief executive and co-chief investment officer at PIMCO, told the crowd that any concerns over the impact of future rate hikes from the Federal Open Markets Committee, the future leadership of the Federal Reserve, and the looming shrinking of the Fed’s balance sheet are unwarranted.
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  • Gary Cohn reportedly out of running to be Trump’s Fed chair choice

    Falls out of favor after criticizing Trump’s response to Charlottesville
    Despite President Donald Trump saying earlier this year that Gary Cohn is among the candidates to replace Janet Yellen when her term as Federal Reserve chair expires in January 2018, it appears now that Cohn may no longer be on Trump’s Fed chair shortlist. Cohn, who currently serves as the White House National Economic Council Director, reportedly fell out of Trump’s favor after criticizing Trump’s response to the violence in Charlottesville, Virginia last month.
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  • Fed Vice Chair Stanley Fischer resigns, citing “personal reasons”

    President Donald Trump will choose replacement
    With Janet Yellen’s term as Federal Reserve chair set to expire early next year, there has already been plenty of discussion about who might replace her. As it turns out, President Donald Trump will have more than Yellen’s position to fill, as the Fed announced Wednesday that Vice Chair Stanley Fischer plans to resign in October, with more than two years left in his term with the Fed.
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  • Atlanta Fed selects former HUD assistant secretary Raphael Bostic as new president

    Served as HUD assistant secretary for policy development and research
    The Federal Reserve Bank of Atlanta announced Monday it selected Raphael Bostic to serve as its new president and chief executive officer. Bostic brings significant housing experience to this position. From 2009 to 2012, Bostic served as assistant secretary for policy development and research at the Department of Housing and Urban Development.
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  • Bernie Sanders: Fed's decision to raise interest rates is a disaster

    Democratic Presidential hopeful hammers Federal Reserve in scathing editorial
    Count Senator Bernie Sanders, I-Vt, among those who think the Federal Open Market Committee’s recent decision to raise the federal funds rate for the first time since June 2006 was a bad decision. In fact, in a scathing editorial published by the New York Times, Sanders lambastes the Federal Reserve, its decision-making, its policies, and its sheer existence.
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  • Even Ben Bernanke can’t refinance right now

    Suggests lenders may have “gone a little bit too far"
    Speaking at a conference of the National Investment Center for Seniors Housing and Care in Chicago, Bernanke said that the market is so tight right now that he was unable to refinance his own home loan recently.
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