Thursday, January 31, 2013

New Kansas City Fed Chief Esther George Starts Tenure With Dissenting Vote

Wall Street Journal and the ongoing tradition of Kansas City financial dissent: "The annual rotation in voting slots for regional bank presidents gave Federal Reserve Bank of Kansas City President Esther George her first opportunity to vote as a central bank policymaker. And she made her mark by breaking from her colleagues in an 11-1 vote to leave the Fed’s bond-buying program in place.

In its post-meeting statement, the Fed said Ms. George “was concerned that the continued high level of monetary accommodation increased the risks of future economic and financial imbalances and, over time, could cause an increase in long-term inflation expectations.”"
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5 Comments:

Anonymous said...

And, over at the old Federal Reserve building...

Anonymous said...

So they found another conservative whack-job of the kind that drove the economy in the ditch to lead one of the most useless Fed banks in the system.

Anonymous said...

Hey, let's print some more money!

Anonymous said...

If the Chinese quit buying our bonds we will be printing lots of money.

Anonymous said...

Midwest sensibility!
They're all tools of the FED, but at least the KC Fed member (Hoenig, now George)has been the one most vocal against Bernanke's path to destruction.
A small consolation at least.