Here are the officials who vote on the Federal Reserve committee that sets interest rates

fed powell board governors

  • Interest rates are set through a voting system on the
    Federal Open Market Committee. 
  • That group consists of Fed governors and leaders of
    central bank branches across the country. 
  • Officials tend to be labeled as dovish or hawkish,
    depending on how much they focus on inflation or
    employment. 

President Donald Trump often blames his monetary policy
frustrations on Federal Reserve Chairman Jerome Powell. But
interest rates are determined by a group of central bankers, not by
Powell alone.

Members of the Federal Open Market Committee typically meet
eight times a year to vote on the federal funds rate. Seven
individuals on the Board of Governors always vote — there are
currently two of these seats open that Trump is
planning nominations for
.

Fed presidents from across the country take turns on the FOMC
each year, though the New York bank’s leader always votes.

Here’s who will be on the committee through 2021 and how they
tend to view monetary policy, according to analysis by Bank of
America Merrill Lynch. Inflation doves are seen as more concerned
about employment than rising prices, while hawkish officials tend
to favor higher interest rates.

FOMC monetary policy graphic

Governors

Presidents

SEE ALSO: Trump
has been turning up the heat on the Fed and now the IMF is warning
political pressure on central banks is ‘dangerous’


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Source: FS – All – Economy – News
Here are the officials who vote on the Federal Reserve committee that sets interest rates