Naureen Hassan, a finance veteran with more than 20 years of experience, including roles at Morgan Stanley and Charles Schwab, was appointed first vice president and chief operating officer at the Federal Reserve Bank of New York, the bank announced on Wednesday.
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(Reuters) - The Minneapolis Federal Reserve Bank’s section of a key U.S. central bank report on Wednesday for the first time flagged insights on the state of the U.S. economy from the perspectives of workers and of minority- and women-owned businesses.
FILE PHOTO: Minneapolis Federal Reserve Bank President Neel Kashkari poses during an interview with Reuters in his office at the bank s headquarters in Minneapolis, Minnesota, U.S., January 10, 2020. REUTERS/ Ann Saphir
The idea of casting a wider net to take stock of economic conditions is part of an effort at the Fed to better track the economy as it tries to steer the nation towards price stability and full employment, a goal it redefined last year as “broad-based and inclusive.”
Racial and gender disparities lead to trillions of dollars in lost economic activity and a full recovery from the crisis caused by the pandemic will require structural changes that make it easier for women and minorities to find better paying jobs,
By Reuters Staff
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WASHINGTON, March 2 (Reuters) - U.S. Federal Reserve Governor Lael Brainard said she was closely watching bond markets and would be concerned if a recent rise in yields continued and began to constrain economic activity.
“I am paying close attention to market developments. Some of those moves last week and the speed of the moves caught my eye,” Brainard said.
“I would be concerned if I saw disorderly conditions or persistent tightening in financial conditions that could slow progress towards our goals.”
Reporting by Howard Schneider Editing by Chris Reese
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(Reuters) - Anxiety is building in bond and short-term funding markets over a pending regulatory change that could cause big Wall Street banks to pare their securities holdings and lending, industry sources said.
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis
Fears about a rule called the supplementary leverage ratio, or SLR, come as fixed income markets have become more volatile. Inflation fears helped to send yields on longer-dated Treasuries last week to one-year highs, while flooded money markets briefly sent a key overnight borrowing rate below zero.