Here’s what to look for when the Federal Open Market Committee releases its policy statement at 2 p.m. today in Washington. Fed officials won’t provide new economic projections, and Chair Janet Yellen isn’t scheduled to give a post-meeting press conference.
The U.S. Senate confirmed two nominees to the Federal Reserve board and made Stanley Fischer Fed vice chairman less than a week before policy makers gather to consider further tapering record accommodation.
The year was 1999, the unemployment rate was 4.3 percent, and President Bill Clinton’s top economic adviser had a message for economists gathered at Yale University: Tight labor markets are beneficial for blacks, Hispanics and male high-school dropouts.
Elizabeth Duke’s resignation from the Federal Reserve Board and Chairman Ben S. Bernanke’s potential departure in January could set off a series of vacancies and appointments that give President Barack Obama the opportunity to leave his mark on the Fed for a decade or longer.
Lael Brainard, a former U.S. Treasury undersecretary for international affairs, won Senate confirmation as a Federal Reserve governor along with Jerome Powell, while Stanley Fischer was approved as Fed vice chairman.