Annual rotation clips wings of the Fed 'dove'

Article Abstract:

The annual rotation among the top executives of the Federal Reserve Board has led to the ouster of Dallas Federal Reserve Bank Pres Robert McTeer from the Federal Open Market Committee (FOMC). McTeer has gained the reputation of a 'dove,' for being an advocate of low interest rates. The rotation cycles four votes among 11 regional Fed bank presidents. However, McTeer's rotation has gained media attention over speculations who would replace him. Moreover, the composition of the FOMC has become crucial for 2000.

Executive changes & profiles, Texas, Federal Reserve Banks, Monetary Authorities - Central Bank

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Reports could be bad news to Federal Reserve

Article Abstract:

The continuing robust US economy is expected to create renewed concerns on the part of the Federal Reserve system. The economy, which is expected to report a growth of 5.9% for 1st qtr 2000, continues to grow at a rate higher than the 4% level preferred by government economists. There is already an ongoing concern that the tight labor market will lead to an increase in employment costs, a development that could lead to higher prices of goods and eventual inflation.

Market information - general

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Will Alan Greenspan and the Fed crash the economy's party?

Article Abstract:

Officials of the Federal Reserve are expected to forsake their careful strategy of increasing interest rates by small quarter-point amounts and increase rates by a more assertive half-point on May 16, 2000. The expected effects of a half-point increase in interest rates include higher loan rates, more expensive mortgages and a less vibrant stock market. Analysts predict that markets will slow down as investors look for indications of an economic slowdown.

Government domestic functions

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