Birdwatching at the Federal Reserve

Read my Oxford University Press blog post on the changing membership of the Federal Reserve’s policy-making body, the Federal Open Market Committee, and the consequences for US interest rates.

Changing the rules at the FOMC

Representative Barney Frank (D-MA) has introduced a measure that would change the membership of the Federal Open Market Committee (FOMC), the group within the Federal Reserve that sets short-term interest rates by intervening in the federal funds market. The FOMC currently consists of the seven members of the Board of Governors of the Federal Reserve … Read moreChanging the rules at the FOMC