Raphael Bostic Raphael Bostic Photo by Contributed Photo /Times Free Press. The growth rate in the U.S. economy may be slowing, but the head of the Federal Reserve Bank of Atlanta said today he expects "another year of solid growth" in 2019 and no signs yet of an economic recession any time soon. Raphael Bostic, CEO of the Atlanta Fed and one of the 12 governors who sits on the Federal Open Markets Committee that help set U.S. interest rates, told the Chattanooga Area Chamber of Commerce today that the U.S. economy should grow this year at a slower pace that in 2018 "as the temporary as the temporary effects from fiscal stimulus and tax reform begin to fade." Next year, the pace of the recovery is likely to slow still farther to below 2 percent by the end of 2020, but Bostic is not forecasting any recession in the near term. "It is important to stress that this lower pace of growth does not show fundamental pessimism about the economy," he said. "Rather, it mostly … [Read more...] about Economic growth ‘solid’ but slowing in new year, Atlanta’s Federal Reserve president says
Federal reserve president
Business Federal Reserve Donald Trump Janet Yellin Jerome Powell When it comes to the Federal Reserve, President Donald Trump has been all over the map. He’s alternately praised and attacked its leader, Janet Yellin. During the 2016 campaign, he labeled her a stooge of President Barack Obama who he said was keeping interest rates and the economy humming just to get Hillary Clinton elected. “The Fed has become very political,” Trump said. “Beyond anything, I would have ever thought possible.” (More often than not, though, he said the economy was in a ditch—one time he even said unemployment was 42 percent.) “Janet Yellen is highly political and she’s not raising rates for a very specific reason, because Obama told her not to, because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn’t want to see a big bubble burst during his administration.” Last week, he was … [Read more...] about Who Is Jerome Powell, Trump’s Likely Pick to Chair the Federal Reserve?
ST. PAUL — Richard Thornton, the former head of FBI’s Minneapolis division, has a new job.The Federal Reserve Bank of Minneapolis announced Monday that Thornton will be the bank’s vice president of law enforcement and operations. Thornton will start his new job on April 23.“We are very excited to have someone of Rick’s experience, stature and strong reputation join the Bank,” Ron Feldman, chief operating officer of the Minneapolis Fed, said in a statement. “We know he will make great contributions to the Bank, the Federal Reserve System and the community at large.”Thornton retired from the bureau in February after 31 years of service. He has led the FBI’s Minneapolis division since 2014 and oversaw cases ranging from terror recruitment in the Twin Cities to the abduction and killing of 11-year-old Jacob Wetterling.Before joining the Minneapolis division, Thornton served as a section chief for the FBI in Washington, D.C., overseeing … [Read more...] about Former FBI head for Minneapolis to work for Federal Reserve
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Rich Miller and Jennifer Jacobs Bloomberg News April 16, 2018 President Trump announced his intention to nominate Richard Clarida, a respected economist and Pacific Investment Management Co. global strategic adviser, as vice chairman of the Federal Reserve.Trump also announced his intention to nominate Kansas State Bank Commissioner Michelle Bowman as Fed governor representing the interests of community banks, the White House said Monday. Both selections, which were first reported by the Wall Street Journal, are subject to confirmation by the U.S. Senate.If confirmed, Clarida, a 60-year-old Harvard alumnus, would bring a mix of skills to the job of the central bank’s number two alongside Chairman Jerome Powell. These include knowledge of financial markets gained during more than a decade at asset manager Pimco, to insights into how Washington works from his … [Read more...] about Harvard alumnus is Trump’s nominee for Federal Reserve vice chairman
President TrumpDonald John TrumpPoll: Less than half of Americans think their taxes are too high Comey pulls no punches with Trump Incoming Pence adviser withdraws nomination following reports Trump opposed candidacy MORE on Monday announced two new nominees to the Federal Reserve board . Richard Clarida, a Columbia University Republican economist and monetary policy specialist, will be nominated to serve as vice chairman to Fed Chairman Jerome Powell. Clarida has taught at Columbia since 1988 and is a managing director at Pacific Investment Management Co. He is seen as a pragmatist rather than an idealist and is well regarded by both conservative and liberal economists, according to The Wall Street Journal. Clarida is a moderate Republican in line with Trump’s previous Fed nominees. He'd become the highest ranking academic on the Fed board and would serve as the deputy to Fed Chairman Jerome Powell. His decades of teaching and research is seen as a … [Read more...] about Trump announces two Federal Reserve nominations