Laurence Meyer News
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It’s not paying to be either an insider or the favorite when it comes to landing the top job at a Group of Seven central bank.
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Federal Reserve Vice Chairman Janet Yellen has the “right of first refusal” to become the next leader of the central bank when Ben S. Bernanke’s term ends in January, said former Fed governor Laurence Meyer.
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Federal Reserve Vice Chairman Janet Yellen has the “right of first refusal” to become the next leader of the central bank when Ben S. Bernanke’s term ends in January, said former Fed governor Laurence Meyer.
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Laurence Meyer, a former Federal Reserve governor, said today that Fed Vice Chairman Janet Yellen has the “right of first refusal” to become the next leader of the central bank when Ben S. Bernanke’s term ends in January.
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The Federal Reserve can’t reduce unemployment and easing further won’t be effective, Carnegie Mellon University’s Allan Meltzer said today at the Bloomberg Hedge Funds Summit. Former Fed Governor Laurence Meyer, speaking at the same event, said the central bank should do more.
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Two regional Federal Reserve presidents said they want the Fed to keep buying bonds through the end of 2013, while a third official said the central bank isn’t doing enough to spur economic growth.
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Former Federal Reserve Governor Laurence Meyer reduced his forecast for the central bank’s bond purchases, saying the Fed will stop at $600 billion in June because of faster U.S. growth.
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Federal Reserve Chairman Ben S. Bernanke’s efforts to rescue the economy could result in more than a half trillion dollars of paper losses on the central bank’s books if interest rates rise abruptly from recent levels.
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Federal Reserve Chairman Ben S. Bernanke and his colleagues may shift from focusing on the gap between actual and optimal employment to an emphasis on the economy’s speed limit in the months ahead.
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Federal Reserve Chairman Ben S. Bernanke’s plan to hold interest rates near zero through at least mid-2013 provoked the most opposition among voting policy makers in 18 years as central bank consensus frayed.
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