The 4 New Voting Members On Fed's Policy Committee
This will be George's first year with a vote on the Fed's policy committee. Her speech has raised the possibility that she will dissent from the easy-money policies being driven by Chairman Ben Bernanke and the majority of Fed officials.
CHARLES L. EVANS
Evans became president of the Federal Reserve Bank of Chicago in September 2007. He joined the Fed's Chicago branch in 1991 and served as director of research before taking the top job.He holds a doctorate in economics from Carnegie-Mellon University and taught at the University of the Chicago, the University of Michigan and the University of South Carolina before taking the Fed job. Evans is a leading dove. (Doves tend to worry more about high unemployment than about inflation.) Evans successfully campaigned to get the Fed to adopt in December economic targets rather than calendar dates for how long interest rates will likely remain at ultra-low levels. At the December meeting, the Fed said it planned to keep a key short-term rate at a record low near zero until unemployment fell below 6.5 percent as long as inflation projections remained mild. The unemployment rate was 7.8 percent in December. ___ ERIC S. ROSENGREN Rosengren took office as president of the Federal Reserve Bank of Boston in July 2007. He joined the Boston Fed as an economist in the research department in 1989 and became a vice president in the research department in 1991. He received a doctorate in economics from the University of Wisconsin. Rosengren is considered a dove on interest-rate policies. He was a leading voice in urging the central bank to adopt a second round of bond purchases to drive interest rates lower in 2010. That process is known as quantitative easing, or QE. He's also spoken in favor of the third round of QE that the Fed launched in September. In a speech this month, Rosengren said the bond purchases were benefiting the economy. As an example, he pointed to higher sales of homes and cars.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts