Fed hawks

[Doug Henwood]

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.

Doug