Federal Reserve Chairman Ben S. Bernanke probably will be succeeded by Vice Chairman Janet Yellen when his term ends Jan. 31, according to a survey last week by International Strategy & Investment Group.
The U.K. Financial Services Authority will be swept away next week after nearly 16 years, replaced by two new regulators with greater powers to intrude into banks’ business models, ban sales of financial products and name and shame suspects.
Former Federal Reserve Vice Chairman Donald Kohn is leveraging his 40 years of public service by charging a speaker’s fee that puts him in a league with Nobel Prize-winning economist Joseph Stiglitz and Oscar- winning actress Geena Davis .
Former Federal Reserve Vice Chairman Donald Kohn said that while forces slowing inflation will begin to ease during the next few years, prices probably won’t begin to rise at the Fed’s preferred 2 percent rate for many years.
Federal Reserve officials in August 2007 saw the beginnings of the crisis in subprime mortgages and concluded that the U.S. economy would be able to withstand it, even as some Fed members warned that it could trigger a downturn, transcripts from their 2007 meetings show.