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The FOMC?s minutes get political

By Felix Salmon

Shahien Nasiripour finds a nugget in the latest FOMC minutes: for the first time since 2002, they mention the Fed’s “supervisory staff” as part of the way that the Fed conducts monetary policy. The idea is that bank supervisors help to keep an eye on leverage and other risks in the financial sector, and that the FOMC uses that information when setting interest rates. Shahien talks to former Fed governor Laurence Meyer, who reads this as a protective move by the Fed: the regiona read more

Full post as published by Macroprudential on April 07, 2010 (boomark / email).