Through a spokeswoman, Greenspan declined to comment.Bernanke's barons, William English at monetary affairs, David Wilcox of the research and statistics division, and Steven Kamin at international affairs, have similar pedigrees. All are Ph.D. economists from the Massachusetts Institute of Technology who have spent decades as Fed staff members.Klein said the Fed board needs to "avoid problems of group think, where everyone is reading the same academic literature. Even if it is from different sides of the debate, everyone is trapped in the world of the same small set of academic journals."When Fed Governor Laurence Meyer started at the central bank, he considered asking for his own staff member,alligator shear according to his 2004 book "A Term at the Fed" detailing his tenure as governor from 1996 to 2002.
"A few of the former governors had suggested that having a staff member assigned directly to me would facilitate my being an independent force on the board," Meyer wrote. "But when I indicated I was planning to go in this direction, the senior staff persuaded me otherwise."This rise of the staff coincided with an era of unanimity on the board. The records document the shift.On May 27, 1997,alligator shear the Board of Governors approved an application by Southern National Corp. of Winston-Salem, North Carolina, to merge with Whiteville, North Carolina-based United Carolina Bancshares Corp. The move was one of a series of mergers and acquisitions that formed today's BB&T Corp., the 17th largest bank holding company in the U.S.
Last Dissent
The otherwise routine meeting is significant because it was the last dissent at a Fed Board of Governor's meeting for more than a decade. Meyer and Fed Vice Chairman Alice Rivlin cast the negative votes.In the years that preceded that meeting, especially from 1986 to 1993, the voting records show contentious decisions, from regulatory actions,skin analyzer to raising and lowering the Fed's discount rate charged on emergency loans, to approval of the presidents and directors at the Fed's regional reserve banks.In November of 1992 the board voted 4-3 to approve Alfred Broaddus as Richmond Fed president, with Governors David Mullins, John LaWare and Susan Phillips voting against him. In July of 1993 LaWare and Phillips dissented against William McDonough becoming president of the New York Federal Reserve. Both Broaddus and McDonough went on to serve as presidents for about a decade.
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"A few of the former governors had suggested that having a staff member assigned directly to me would facilitate my being an independent force on the board," Meyer wrote. "But when I indicated I was planning to go in this direction, the senior staff persuaded me otherwise."This rise of the staff coincided with an era of unanimity on the board. The records document the shift.On May 27, 1997,alligator shear the Board of Governors approved an application by Southern National Corp. of Winston-Salem, North Carolina, to merge with Whiteville, North Carolina-based United Carolina Bancshares Corp. The move was one of a series of mergers and acquisitions that formed today's BB&T Corp., the 17th largest bank holding company in the U.S.
Last Dissent
The otherwise routine meeting is significant because it was the last dissent at a Fed Board of Governor's meeting for more than a decade. Meyer and Fed Vice Chairman Alice Rivlin cast the negative votes.In the years that preceded that meeting, especially from 1986 to 1993, the voting records show contentious decisions, from regulatory actions,skin analyzer to raising and lowering the Fed's discount rate charged on emergency loans, to approval of the presidents and directors at the Fed's regional reserve banks.In November of 1992 the board voted 4-3 to approve Alfred Broaddus as Richmond Fed president, with Governors David Mullins, John LaWare and Susan Phillips voting against him. In July of 1993 LaWare and Phillips dissented against William McDonough becoming president of the New York Federal Reserve. Both Broaddus and McDonough went on to serve as presidents for about a decade.
This is my favorite article:West Point cadets join Culinary Institute students in the kitchen
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