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FOMC Hawks Roll Out the Welcome Mat for Kevin Warsh
The FOMC left the policy rate range of 3.5–3.75% unchanged along with balance sheet plans as universally expected. Guidance was mixed and tiptoed further yet toward a fully neutral if not hawkish bias that serves as an awkward segue into new leadership. A 55-minute press conference was well managed by Chair Powell with a lot of emphasis upon staying on the Board and defending Fed independence. All but the most emotionally vacuous couldn’t help but observe a degree of moroseness as Powell left the room for a final time as Chair. Departing a job he so obviously loved and was passionate about. A weak attempt at a ... (full story)
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The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. The Federal Reserve conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. ...
Japan FinMin Katayama: We Are Nearing Timing To Take Bold Action On FX - Have Long Mentioned Possible Bold Action On FX
Kevin Warsh, President Donald Trump's pick for chairman of the Federal Reserve, cleared another hurdle Wednesday as the Senate banking committee voted to send his nomination to a final confirmation vote. The vote came after Sen. Thom Tillis, R-N.C., Carolina, dropped his block of Warsh's nomination. Tillis said he'd block any nominee until the Justice ...
