The Fed's 2018 Federal Open Market Committee voters - the hawks, the doves

Author: Eamonn Sheridan | Category: Central Banks

Each year the regional Federal Reserve presidents voting on the FOMC rotate off, replaced an fresh incoming set.

There are permanent voting members of the FOMC, these are the 'Governors' (and one more, I'll get to that). There are 7 members of the Board of Governors of the Federal Reserve System, but with 3 vacancies at present here are the 4 current Govs:
  • Janet Yellen, Chair (Yellen retires in February, will be replaced by Jerome Powell)
  • Randal Quarles   
  • Jerome Powell
  • Lael Brainard
The other permanent voting member of the FOMC is the head of the New York branch of the Federal Reserve, 
  • William Dudley (Dud is expected to retire mid-2018)
The regional presidents with a vote in 2017 were:
Those who are centrist/hawkish :
  • Dallas Fed president Robert Kaplan
  • Philadelphia Fed president Patrick Harker
Those on the dovish end of the spectrum: 
  • Minneapolis Fed president Neel Kashkari 
  • Chicago Fed president Charles Evans
Those 4 will not vote in 2017, the regional president voters in 2018 are:
Hawkish:
  • Cleveland Fed president Loretta Mester
Centrist:
  • John Williams, San Francisco Fed president
  • Atlanta Fed's  Raphael Bostic
  • Richmond Fed ... well, Richmond does not have a president right now, (acting president is Mark Mullinix)
Nonvoting presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee's assessment of the economy and policy options.

Note that committee membership changes at the first regularly scheduled meeting of the year