Federal Reserve Approves Policy Statement On Countercyclical Capital Buffer
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Reforming the Federal Reserve System
Reforming the Federal Reserve SystemThe U.S. Federal Reserve System combines money, power, and independence, so it is no surprise that it draws skeptics and critics from both the political right and left.Yet for all the criticism the Fed receives, remarkably few Americans can even identify its Chair, Janet Yellen.In a recent panel hosted by Wharton's Public Policy Initiative, Peter Conti-Brown, a professor of business ethics at the Wharton School of the University of Pennsylvania and the author of The Power and Independence of the Federal Reserve, set out to de-mystify the workings of the Fed, correct common misconceptions of the system, and discuss reforms that could improve its efficacy.
US Federal Reserve divided, Yellen finds new reason to hold rates
US Federal Reserve board chair Janet Yellen speaks during a news conference on the Federal Reserve's monetary policy on Wednesday.Alex BrandonShare on twitterShare on Google Plus John Kehoe by The decision to hold US interest rates steady was rejected by three of ten voting members on the Federal Reserve's monetary policy committee, underlining how the central bank is growing increasingly divided about how soon to lift borrowing costs from crisis-level lows.Though Federal Open Market Committee chair Janet Yellen said in her press conference "I would expect to see" one rate hike this year if the "solid" job market continued improving, the rising internal dissent means she will be forced to steer a difficult course on future rate calls.
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