Fed hawks

Doug Henwood dhenwood at panix.com
Thu Sep 17 11:52:56 PDT 1998

Fed policy is set by the Federal Open Market Committee, which consists of the chair, AG; the vice chair, Alice Rivlin; the four other governors; the president of the New York Fed; and four of the regional bank presidents, who serve in rotation. Five of the FOMC members are on record as hawkish - governors Roger Ferguson (who says the Asian crisis is good for us), Edward Gramlich, and Laurence Meyer, and the hardass regional bank presidents Jerry Jordan (FRB Cleveland) and William Poole (FRB St Louis). Could be an interesting FOMC meeting on September 29.


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