Talk:Federal Open Market Committee

Federal Funds Probability

I changed 'probability' to 'rate,' the universally used term. The link is still to the Federal Funds Rate page. Why was it called probability? —Preceding unsigned comment added by 68.100.30.146 (talk) 22:58, 17 February 2008 (UTC)

Accuracy in membership

The Reserve Bank members of the FOMC do not have to be the Presidents. Rather than explain this, which I am not sure I can, here's the relevant legislation:

There is hereby created a Federal Open Market Committee (hereinafter referred to as the “Committee”), which shall consist of the members of the Board of Governors of the Federal Reserve System and five representatives of the Federal Reserve banks to be selected as hereinafter provided. Such representatives shall be presidents or first vice presidents of Federal Reserve banks and, beginning with the election for the term commencing March 1, 1943, shall be elected annually as follows: One by the board of directors of the Federal Reserve Bank of New York, one by the boards of directors of the Federal Reserve Banks of Boston, Philadelphia, and Richmond, one by the boards of directors of the Federal Reserve Banks of Cleveland and Chicago, one by the boards of directors of the Federal Reserve Banks of Atlanta, Dallas, and St. Louis, and one by the boards of directors of the Federal Reserve Banks of Minneapolis, Kansas City, and San Francisco. In such elections each board of directors shall have one vote; and the details of such elections may be governed by regulations prescribed by the committee, which may be amended from time to time. An alternate to serve in the absence of each such representative shall likewise be a president or first vice president of a Federal Reserve bank and shall be elected annually in the same manner.

There's more to the paragraph, but that's the relevant part (12 U.S.C. § 263). Given this, the tradition of one seat only going to the New York Fed and the other rotations is simply a gentleman's agreement among the banks. Can we rework this section to explain this? -James Howard (talk/web) 10:06, 24 September 2005 (UTC)

Greenspan/Bernanke

I almost changed Greenspan from chairman to former chairman, but is he still on the committee after being replaced by Ben Bernanke? Are there any other substitutions? Art LaPella 01:04, 2 February 2006 (UTC)

Challenging Continued Neutrality Tag

Does anyone really see the need to maintain the neutrality tag on this article? It strikes me as factual and nonjudgmental -- almost to the point of blandness. What POV issues are there here to object to? Nandt1 (talk) 15:34, 9 August 2011 (UTC)

The article lacks sufficient criticism of the subject, such as for their practice of interest rate targeting (see this source (Allen, Larry (15 October 2009). The encyclopedia of money. ABC-CLIO. p. 242. ISBN 978-1-59884-251-7. Retrieved 9 August 2011.).Smallman12q (talk) 21:59, 9 August 2011 (UTC)

Hmmm. We may have different understandings of the circumstances that would justify labeling an article for lack of neutrality. Do others share Smallman's view that the lack of a specified critique of Fed pratice would warrant the absence of neutrality tag? The article does not, as far as I can see, present any sort of defense of interest rate targeting? Rather, it presents the fact that the Fed uses such targeting in what I would have thought a "neutral" way..... Nandt1 (talk) 02:08, 10 August 2011 (UTC)

I've added a criticism section (it's only a line)...feel free to expand. You can remove the tag if you wish. Also, please read WP:NPOV so you'll have a better idea of what neutral means here.Smallman12q (talk) 12:20, 11 August 2011 (UTC)

Hmmmmm. Well, as to NPOV the present sentence clearly falls short, since it rather obviously does not "represent... fairly, proportionately, and as far as possible without bias, all significant views that have been published by reliable sources". I am really not an expert on monetary rules (and, with the utmost respect, I sense that you are not either), but if one is going to discuss what rule the Fed should follow, it would seem to me that the piece would need, inter alia, to discuss the main alternatives to interest rate targeting that have been put forward, at least in recent times. Is there someone out there with the necessary familiarity with the issues who would be willing to try to do this justice? Nandt1 (talk) 13:10, 11 August 2011 (UTC)

Having one line of sourced criticism is better than none at all...though I do agree it should be expanded. You are of course welcome to fix it as you see fit...this isn't my area of expertise. You could ask at Wikiproject economics but the wikiproject doesn't seem to be too active.Smallman12q (talk) 21:07, 11 August 2011 (UTC)

Well, I have taken a stab at adding a little more depth to this section. The first of your references (Allen) was quite helpful in this regard. I believe we've reached a point where I would second your motion to remove the neutrality tag, and I shall plan to do just that. Nandt1 (talk) 13:43, 12 August 2011 (UTC)

By the way, I see there is also still a "factual accuracy" tag on the article. Do you (or does anyone here) know what that is all about? If not, I should think it could also be scrapped. Nandt1 (talk) 13:47, 12 August 2011 (UTC)

You can remove the other tags as well...nice addition for interest rate targeting.Smallman12q (talk) 17:32, 13 August 2011 (UTC)

Done! Nandt1 (talk) 19:59, 13 August 2011 (UTC)

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Reserve my name for a grant

How do I register my name to the reserve bank Dannydan4 (talk) 20:07, 9 January 2019 (UTC)

A Commons file used on this page or its Wikidata item has been nominated for deletion

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CAA

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