FOMC Hawk Dove Spectrum
I always enjoy the intro of all the players in the Superbowl (though not as much as Key & Peele’s).
Perhaps it is time to review all the players in the FOMC, given upcoming personnel changes. Michael Hanson at Bank of America Merrill Lynch notes some of these changes:
“The Board has seven governors in total and they all vote at every FOMC meeting . . . With the departure of Elizabeth Duke last September and Ben Bernanke at the end of January, there will be two openings on the Board of Governors. In addition, Sarah Bloom Raskin has been nominated for a top job at the Treasury, and thus has recused herself from voting at the last several FOMC meetings . . . As a result, the Obama Administration recently announced plans to nominate Stanley Fischer as vice chair and Lael Brainard as a governor, and to appoint Powell to a full 14-year term. That will bring the FOMC close to its full allotment of governors, pending Senate approval -- which should be easier now that the Senate rules do not allow filibustering of Fed nominations.”
Given these changes, the accompanying chart gives you the latest players, plus their positions on the Hawk Dove spectrum.
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