Federal Reserve on Notably News

Federal Reserve

Central banking system of the US

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March 2025	Michelle Bowman's term as Board of Governors member is pending for St. Louis Regional Bank as of March 2025.
February 28 2025	Michael Barr resigned from the position of Vice Chair for Supervision, leaving the position vacant. www.axios.com Fed Vice Chair Michael Barr’s resignation means the new capital requirements’ future is even murkier than before www.emarketer.com
February 25 2025	The Federal Reserve publishes a weekly 'Consolidated Statement of Condition of All Federal Reserve Banks', detailing the financial condition of Federal Reserve banks and transferring excess earnings to the Treasury as interest on Federal Reserve notes. 2025-02-26, Release Tables: Table 5. Consolidated Statement of Condition of All Federal Reserve Banks \| FRED \| St. Louis Fed fred.stlouisfed.org 2025 Capital Stock Adjustment Processing Dates \| Federal Reserve Financial Services www.frbservices.org
2023	Kelly Dubbert serves as Acting President of the Federal Reserve Bank of Kansas City after Esther George's departure.
2023	Patrick A. Dujakovich becomes Chair of the Federal Reserve Bank of Kansas City, representing the Greater Kansas City AFL-CIO and based in Kansas City, Missouri
2023	Jeffrey Schmid becomes President of the Federal Reserve Bank of Kansas City, succeeding Kelly Dubbert. www.kansascityfed.org Jeffrey R. Schmid \| Federal Reserve History www.federalreservehistory.org
2023	Reported a net negative income of $114.3 billion, creating a deferred asset liability of $133.3 billion on its balance sheet www.reuters.com Calculated Risk: Lawler: Federal Reserve Earnings Still Running Negative; No Remittances to Treasury for a While www.calculatedriskblog.com
September 13 2023	Philip Jefferson was sworn in as Vice Chair of the Board of Governors of the Federal Reserve System. Remarks from Vice Chair Philip N. Jefferson at the Macroeconomics and Monetary Policy Conference - San Francisco Fed www.frbsf.org Philip Jefferson: The Vice Chair of the Federal Reserve www.investopedia.com
2022	The Federal Reserve started quantitative tightening (QT), selling assets and incurring losses in the secondary bond market, which is expected to discontinue its annual remittance payments to the Treasury. When might the Fed end its quantitative tightening (QT) program? \| J.P. Morgan Asset Management am.jpmorgan.com
2022	Started quantitative tightening (QT), selling assets and experiencing losses in the secondary bond market www.reuters.com When might the Fed end its quantitative tightening (QT) program? \| J.P. Morgan Asset Management am.jpmorgan.com
2022	Diane C. Swonk, chief economist and advisor to the Federal Reserve, made a notable statement comparing inflation to cancer, emphasizing the importance of addressing economic challenges proactively to prevent long-term economic damage. Inflation remains stubbornly high despite Federal Reserve’s efforts to stabilize costs \| PBS News www.pbs.org Diane Swonk on LinkedIn: Mind the gap There is a clear dissonance in how the economy adds up on… \| 21 comments www.linkedin.com
July 19 2022	Michael Barr begins his term as Vice Chair for Supervision, appointed by President Joe Biden.
May 23 2022	Lael Brainard is appointed Vice Chair by President Joe Biden. Senate confirms Lael Brainard as Federal Reserve vice chair \| CNN Business www.cnn.com Lael Brainard \| Federal Reserve History www.federalreservehistory.org
May 23 2022	Jerome Powell was sworn in for a second term as Chair of the Federal Reserve, after being nominated by President Joe Biden and confirmed by the Senate.
2021	The Federal Reserve explicitly explained its implementation of monetary policy, detailing how changes in the federal funds rate target can influence overall financial conditions, including interest rates, asset prices, and currency exchange rates. The Fed - Monetary Policy and Economic Developments www.federalreserve.gov The Federal Reserve’s monetary policy framework review www.brookings.edu
October 13 2021	Randy Quarles completes his four-year term as Vice Chair for Supervision.
March 31 2021	The Primary Dealer Credit Facility (PDCF) ceased extending credit, marking the end of this overnight loan facility that provided funding to primary dealers during its operational period. United States: Primary Dealer Credit Facility \| The New Bagehot Project newbagehot.yale.edu Primary Dealer Credit Facility (PDCF): What It Is, How It Works www.investopedia.com
2020	Bureau of Engraving and Printing delivered 57.95 billion currency notes at an average cost of 7.4 cents per note during the Fiscal Year.
2020	The Federal Reserve earned approximately $88.6 billion with remittances to the U.S. Treasury of $86.9 billion.
March 2020	The Federal Reserve set the reserve requirement to zero for all banks, effectively eliminating the longstanding requirement for banks to hold reserves, marking a significant change in monetary policy tools.
2018	Jerome (Jay) Powell becomes Chair of the Federal Reserve Board of Governors, appointed by President Trump.
September 17 2018	Richard Clarida is appointed Vice Chair during Donald Trump's presidency.
2017	Sarah Binder & Mark Spindel published 'The Myth of Independence: How Congress Governs the Federal Reserve', analyzing the relationship between Congress and the Federal Reserve.
November 2 2017	Jerome Powell was nominated by President Donald Trump to serve as Chair of the Federal Reserve.
October 13 2017	Randy Quarles begins his term as the first Vice Chair for Supervision, appointed by President Donald Trump.
2016	Peter Conti-Brown published 'The Power and Independence of the Federal Reserve', exploring the institution's governance.
2015	The Federal Reserve earned a net income of $100.2 billion and transferred $97.7 billion to the U.S. Treasury.
July 2015	President Obama nominated University of Michigan economist Kathryn M. Dominguez to fill a vacancy on the Federal Reserve Board.
January 2015	President Obama nominated Allan R. Landon, former president and CEO of the Bank of Hawaii, to the Federal Reserve Board.
2014	Janet Yellen becomes the first woman to serve as Chair of the Federal Reserve Board of Governors, appointed by President Obama.
June 16 2014	Stan Fischer is appointed Vice Chair.
April 2014	Jeremy C. Stein announced he was leaving the Federal Reserve Board to return to Harvard on May 28, with four years remaining on his term.
March 2014	At the end of the first quarter, the Federal Reserve's Flow of Funds report revealed the net worth of U.S. households and nonprofit organizations had increased to $95.5 trillion.
2013	Kathryn C. Lavelle published 'Money and Banks in the American Political System', explaining the political processes surrounding the Federal Reserve.
September 2012	At the end of the third quarter, the Federal Reserve published the Flow of Funds report showing the net worth of U.S. households and nonprofit organizations was $64.8 trillion.
May 2012	Senate leaders reached a deal, allowing affirmative votes on Jeremy C. Stein and Jerome Powell, bringing the board to full strength for the first time since 2006.
2011	Esther George assumes the role of President of the Federal Reserve Bank of Kansas City, replacing Thomas M. Hoenig.
December 2011	President Barack Obama nominated Jeremy C. Stein, a Harvard University finance professor, and Jerome Powell to the Federal Reserve Board of Governors.
September 2011	Janet Yellen and Sarah Bloom Raskin were confirmed to the Federal Reserve Board of Governors.
August 2011	Richard Clarida, a potential nominee who was a Treasury official under George W. Bush, pulled out of consideration for the Federal Reserve Board.
June 2011	Peter Diamond, a Nobel Prize-winning economist, withdrew his nomination to the Federal Reserve Board of Governors due to Republican opposition.
March 31 2011	The Federal Reserve released the requested data about financial crisis guarantees after losing legal battles in trial court, the Court of Appeals, and the Supreme Court.
March 31 2011	Kevin Warsh resigned from his position on the Federal Reserve Board of Governors.
March 31 2011	After legal battles, the Federal Reserve was compelled to release confidential data about financial institutions guaranteed during the 2007-2008 financial crisis, following court rulings in Bloomberg L.P.'s favor.
2010	The Federal Reserve authorizes up to five 'small-value offerings' as a pilot program for the Term Deposit Facility, with three auctions successfully completed.
2010	Dodd-Frank Wall Street Reform and Consumer Protection Act introduced comprehensive financial regulatory reforms in the wake of the 2008 financial crisis.
2010	Fed Chair Ben S. Bernanke testified before the House Committee on Financial Services about using the Term Deposit Facility to reverse credit expansion during the Great Recession.
October 4 2010	Janet Yellen becomes Vice Chair, appointed by President Barack Obama.
July 21 2010	Dodd-Frank Wall Street Reform and Consumer Protection Act comes into force, establishing the new position of Vice Chairman for Supervision at the Federal Reserve, requiring presidential designation and Senate confirmation.
June 4 2010	The Term Deposit Facility program became effective, allowing the Federal Reserve to offer interest-bearing term deposits to eligible institutions.
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