July 24 – The Electronic Payments Association President and CEO Janet O. Estep has been named as a member of the steering committee of the Federal Reserve’s Faster Payments Task Force.
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July 3 – Federal Reserve Chair Janet L. Yellen addressed monetary policy and financial stability at the 2014 Michel Camdessus Central Banking Lecture, International Monetary Fund, Washington, D.C. Below are her comments.
Aug 1 – Financial Services Committee Ranking Member Maxine Waters, joined by 37 of her fellow Democrats, delivered a letter urging President Obama to nominate Janet Yellen, current vice chairman of the Board of Governors of the Federal Reserve System, to replace Ben Bernanke as chairman of the Federal Reserve when his term expires.
October 21 – Federal Reserve Vice Chair Janet L. Yellen gave a presentation titled, “The Outlook for the U.S. Economy and Economic Policy” at the Annual Meeting of the Financial Management Association International. Her comments follow:
By KC Mathews
As I mentioned in part 1 of our economic forecast (March BankNews), I expect our economy to continue to grow at a slow and steady pace in 2016, due in part to the several tailwinds and a few headwinds.
February 19 – Douglas E. Johnston, Jr., banking and financial expert witness and economic analyst at Five Management, LLC, shares his unique perspective regarding the emergence of negative interest rates.
December 8 – In the days leading up to the next meeting of the Federal Open Market Committee, various Fed officials have expressed optimism that the members will vote to increase interest rates. The FOMC’s final meeting of 2015 will be held Dec. 15-16 and will be followed by a press conference. (more…)
July 20 – The Federal Reserve Board has approved a final rule requiring the largest, most systemically important U.S. bank holding companies to further strengthen their capital positions. Under the rule, a firm that is identified as a global systemically important bank holding company, or GSIB, will have to hold additional capital to increase its resiliency in light of the greater threat it poses to the financial stability of the United States.
July 13 – “Why hasn’t the FOMC yet raised rates?” Esther George, president and CEO of the Federal Reserve Bank of Kansas City, would like to tell you. In a recent speech at the Oklahoma Economic Forum in Stillwater, George noted that during her first voting rotation on the Federal Open Market Committee in 2013, she did not support a third round of asset purchases. “By then,” she said, the immediate crisis had passed, the economy was slowly expanding for its third consecutive year and monetary policy settings remained extraordinarily accommodative. (more…)