FOMC

The central bank chairman said Friday that he would not step down if asked to do so by the president, adding that he has not received any direct communications from the White House about the agency’s interest rate policy.

Federal Reserve Chairman Jerome Powell demurs on regulatory relief for largest banks while saying he is “open” to countercyclical buffer.

Mary Daly succeeds John Williams, who left the bank earlier this year to run the Federal Reserve Bank of New York.

The former Citigroup CEO is investing $100 million in Fair Square Financial, a midmarket card issuer; the exit leaves one executive atop the bank’s securities division.

John Williams, a monetary policy expert, has been a critic of Wall Street culture and has voiced concerns about financial startups not offering equal access to credit.

The New York Fed has tapped San Francisco Federal Reserve Bank President John Williams as its next president, concluding a search process that has drawn criticism for being inadequately considerate of candidates with more diverse backgrounds.

In an interview with American Banker, the outgoing president of the Federal Reserve Bank of New York discussed changes in supervision, bank culture and his advice to his successor.

While regulatory relief legislation would raise the asset threshold for “systemically important” banks, Federal Reserve Chairman Jerome Powell said the central bank could still apply prudential scrutiny to banks below that new cutoff.

The Federal Reserve raised interest rates by a quarter-point at its Wednesday meeting and more increases are expected this year. Here's what credit unions need to know to be prepared.

Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.

Her career at the Federal Reserve is one of remarkable accomplishments, but time will tell how her tenure ultimately is remembered in terms of her impact on bank regulation and stewardship of the economy.

Upper chamber approves nomination to succeed Janet Yellen; Twitter’s operations chief to take over online lender in March.

Senators overwhelmingly approved Jerome Powell to lead the Federal Reserve Board despite vocal opposition from some Democrats.

Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year.

The Fed said Wednesday that the system paid roughly $80.2 billion to the Treasury in 2017, a 13% drop from a year earlier because of an increase in interest payments to member banks for reserve balances.

Despite concerns from Democrats about the bank regulatory views of Federal Reserve Board officials who will lead the central bank going forward, the current Fed chair said she is not worried.

Marvin Goodfriend, a noted economist and former Richmond Fed official, was tapped to fill one of three vacancies on the Fed board.

Federal Reserve chair Janet Yellen said interest on bank reserves should remain the central bank’s primary monetary policy tool.

William Dudley is leaving before his term is up; esoteric bank security pays off big.

Many industry observers believe Federal Reserve Board Janet Yellen will retire from the central bank once her term as chair expires in February. But there are reasons she might stay.