Fed Board members manipulating stock prices so they can buy or sell
QDo the members of the Federal Reserve Board have to give up stock market
trading when they become members? It seems their comments have an immediate
effect on the market.
A The seven members of the Federal Reserve System's Board of Governors are
allowed to trade stocks. said Susan Stawick. a spokeswoman for the board.
But they are prohibited from owning bank stocks or stocks in primary
government securities.
The members are appointed by the president. confirmed by the Senate and
serve 14-year terms. Members may serve only one full term. but a member who
has been appointed to complete a term may be reappointed. The president
designates one member to be board chairman and another to be vice chairman.
picks that must get Senate confirmation.
Glad you too can copy and paste articles with simple stupid arithmetic
errors. 7 FRB members from 12 FR banks? Isn't MA bankrupt yet?
FRB were added over the years. Deserves more
study to see how it works now.
As typical of the Liberal Press. The Federal Open Market Committee consists of twelve voting members:
the seven members of the Board of Governors and five of the twelve
Federal Reserve Bank presidents. The president of the Federal Reserve
Bank of New York serves on a continuous basis; the presidents of the
other Reserve Banks serve one-year terms on a rotating basis beginning
on January 1 of each year. The rotating seats are filled from the
following four groups of Banks. one Bank president from each group:
Boston. and Richmond; Cleveland and Chicago; Atlanta. and Dallas; and Minneapolis. All of the Reserve Bank presidents. even those who are not currently
voting members. attend FOMC meetings. participate in the discussions.
and contribute to the assessment of the economy and of policy options.
The FOMC is the power muscles of the FRB.
Those Bastards? Those M.I.S dork heads?
So let me get this straight. They are allowed to buy and sell stocks. So
therefore they are manipulating the stock markets for their own personal
gains.
trading when they become members? It seems their comments have an immediate
effect on the market.
A The seven members of the Federal Reserve System's Board of Governors are
allowed to trade stocks. said Susan Stawick. a spokeswoman for the board.
But they are prohibited from owning bank stocks or stocks in primary
government securities.
The members are appointed by the president. confirmed by the Senate and
serve 14-year terms. Members may serve only one full term. but a member who
has been appointed to complete a term may be reappointed. The president
designates one member to be board chairman and another to be vice chairman.
picks that must get Senate confirmation.
Glad you too can copy and paste articles with simple stupid arithmetic
errors. 7 FRB members from 12 FR banks? Isn't MA bankrupt yet?
FRB were added over the years. Deserves more
study to see how it works now.
As typical of the Liberal Press. The Federal Open Market Committee consists of twelve voting members:
the seven members of the Board of Governors and five of the twelve
Federal Reserve Bank presidents. The president of the Federal Reserve
Bank of New York serves on a continuous basis; the presidents of the
other Reserve Banks serve one-year terms on a rotating basis beginning
on January 1 of each year. The rotating seats are filled from the
following four groups of Banks. one Bank president from each group:
Boston. and Richmond; Cleveland and Chicago; Atlanta. and Dallas; and Minneapolis. All of the Reserve Bank presidents. even those who are not currently
voting members. attend FOMC meetings. participate in the discussions.
and contribute to the assessment of the economy and of policy options.
The FOMC is the power muscles of the FRB.
Those Bastards? Those M.I.S dork heads?
So let me get this straight. They are allowed to buy and sell stocks. So
therefore they are manipulating the stock markets for their own personal
gains.
posted by otis eddy at 6:48 PM
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