Monetary policy of The United States concerns those policies related to the minting &printing of money,policies governing the legal exchange of currency,demand deposits,the money supply,etc. In the United States,the central bank,The Federal Reserve System,colloquially known as "The Fed" is the monetary authority.
The chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve,and is the active executive officer of the Board of Governors of the Federal Reserve System. The chair shall preside at the meetings of the Board.
George William Miller was an American businessman and investment banker who served as the 65th United States secretary of the treasury from 1979 to 1981. A member of the Democratic Party,he also served as the 11th chair of the Federal Reserve from 1978 to 1979. Miller was the first person to hold both of those posts.
In the United States,the federal funds rate is the interest rate at which depository institutions lend reserve balances to other depository institutions overnight on an uncollateralized basis. Reserve balances are amounts held at the Federal Reserve to maintain depository institutions' reserve requirements. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds rate is an important benchmark in financial markets.
Roger W. Ferguson Jr. is an American economist,attorney and corporate executive who served as the 17th vice chair of the Federal Reserve from 1999 to 2006. Prior to his term as vice chairman,Ferguson appointed as a member of the Federal Reserve Board of Governors since 1997. A member of the Democratic Party,Ferguson was the first African American to hold that post. After leaving the Fed,he served as president and CEO of the Teachers Insurance and Annuity Association of America (TIAA) from 2008 to 2021. Ferguson also appointed to board of directors of several companies.
The Board of Governors of the Federal Reserve System,commonly known as the Federal Reserve Board,is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms.
The Federal Reserve Bank of Boston,commonly known as the Boston Fed,is responsible for the First District of the Federal Reserve,which covers New England:Maine,Massachusetts,New Hampshire,Rhode Island,Vermont and all of Connecticut except Fairfield County. It has been headquartered since 1977 in the distinctive 614-foot (187 m) tall,32-story Federal Reserve Bank Building at 600 Atlantic Avenue,Boston. Designed by architecture firm Hugh Stubbins &Associates,the tower portion of the building is suspended between two towers on either side. From 1922 to 1977,the bank's headquarters were located at 250 Franklin Street,currently occupied by the Langham Hotel Boston.
The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks that,along with the Board of Governors in Washington,D.C.,make up the United States' central bank. Missouri is the only state to have two main Federal Reserve Banks. Located in downtown St. Louis,the St. Louis Fed is the headquarters of the Eighth Federal Reserve District,which includes the state of Arkansas and portions of Illinois,Indiana,Kentucky,Mississippi,the eastern half of Missouri and West Tennessee. It has branches in Little Rock,Louisville and Memphis. Its building,at 411 Locust Street,was designed by St. Louis firm Mauran,Russell &Crowell in 1924. The Eighth District serves as a center for local,national and global economic research,and provides the following services:supervisory and regulatory services to state-member banks and bank holding companies;cash and coin-handling for the District and beyond;economic education;and community development resources.
The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that,along with the Federal Reserve Board of Governors,make up the United States' central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District,which encompasses the northern portions of Illinois and Indiana,southern Wisconsin,the Lower Peninsula of Michigan,and the state of Iowa. In addition to participation in the formulation of monetary policy,each Reserve Bank supervises member banks and bank holding companies,provides financial services to depository institutions and the U.S. government,and monitors economic conditions in its District.
Cathy E. Minehan was President and Chief Executive Officer of the Federal Reserve Bank of Boston from 1994 until her retirement in July 2007. Minehan also served as a member of the Federal Open Market Committee,the body responsible for U.S. monetary policy. She was "appointed Dean of the School of Management of Simmons College,a private university,in August 2011 and is Managing Director of Arlington Advisory Partners,a private advisory services firm."
Edward Gerald Corrigan was an American banker who was the seventh President of the Federal Reserve Bank of New York and Vice-Chairman of the Federal Open Market Committee. Corrigan served as a partner and managing director in the Office of the Chairman at Goldman Sachs and was appointed chairman of GS Bank USA,the bank holding company of Goldman Sachs,in September 2008 until retiring in 2016. He was also a member of the Group of Thirty,an influential international body of leading financiers and academics.
Thomas Michael Hoenig is a Distinguished Senior Fellow at the Mercatus Center. He became a director of the Federal Deposit Insurance Corporation on April 16,2012,and served as vice chairman from November 30,2012 to April 30,2018. From 1991 to 2011,he served as the eighth chief executive of the Tenth District Federal Reserve Bank,in Kansas City,United States. In 2010,he was serving as a voting member of the Federal Open Market Committee,as one of five of the twelve Federal Reserve Bank presidents that sit on the Committee on a yearly rotating basis. He is known as an "anti-inflation hawk".
Regulatory responses to the subprime crisis addresses various actions taken by governments around the world to address the effects of the subprime mortgage crisis.
William C. Dudley is an American economist who served as the president of Federal Reserve Bank of New York from 2009 to 2018 and as vice-chairman of the Federal Open Market Committee. He was appointed to the position on January 27,2009,following the confirmation of his predecessor,Timothy F. Geithner,as United States Secretary of the Treasury.
Sarah Bloom Raskin is an American attorney and regulator who served as the 13th United States Deputy Secretary of the Treasury from 2014 to 2017. A member of the Democratic Party,Bloom Raskin previously served as a member of the Federal Reserve Board of Governors from 2010 to 2014. She also was Maryland commissioner of financial regulation and a managing director at the Promontory Financial Group. She is a Rubenstein Fellow at Duke University. In May 2017,she was elected to the board of directors for Reserve Trust Company,a FinTech company based in Colorado. In January 2022,President Joe Biden nominated her to succeed Randal Quarles as vice chair for supervision of the Federal Reserve. On March 15,2022,she withdrew her nomination due to opposition from Republican senators and Democratic senator Joe Manchin.
Richard Harris Clarida is an American economist who served as the 21st Vice Chair of the Federal Reserve from 2018 to 2022. Clarida resigned his post two weeks before the expiration of his term as governor,following his belated disclosure of controversial trading activity at the start of the COVID-19 pandemic. He is the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University and,from 2006 until September 2018,Global Strategic Advisor for PIMCO. He is notable for his contributions to dynamic stochastic general equilibrium theory and international monetary economics. He is a former Assistant Secretary of the Treasury for Economic Policy and is a recipient of the Treasury Medal.
Robert Steven Kaplan was most recently the president and CEO of the Federal Reserve Bank of Dallas and is a former long-time Goldman Sachs executive.
Lisa DeNell Cook is an American economist who has served as a member of the Federal Reserve Board of Governors since May 23,2022. She is the first African American woman and first woman of color to sit on the Board. Cook previously was a professor of economics and international relations at Michigan State University and a member of the American Economic Association's Executive Committee. An authority on international economics,especially on the Russian economy,she has been involved in advising policymakers from the Obama Administration to the Nigerian and Rwandan governments. In 2022,Cook was elected to the board of the Federal Reserve Bank of Chicago.
Philip Nathan Jefferson is an American economist who is vice president for academic affairs,dean of the faculty,and Paul B. Freeland professor of economics at Davidson College. He was previously Centennial Professor of Economics at Swarthmore College,a research economist for the Federal Reserve,and a professor at Columbia University. President Biden nominated him to serve as a member of the Board of Governors of the Federal Reserve System in January 2022. He became the fourth black man to sit on the Federal Reserve's Board after the Senate confirmed his nomination on May 11,2022. He was sworn in on May 23,2022.
The vice chair of the Board of Governors of the Federal Reserve System is the second-highest officer of the Federal Reserve,after the chair of the Federal Reserve,and shall preside at meetings of the Board of Governors of the Federal Reserve System,in absence,of the chair.
