Key Events This Busy Week: Payrolls, PMIs And Barrage Of Fed Talking Heads
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Key Events In The Coming Action-Packed Week: Payrolls, PMIs, Politics And Tons Of Earnings
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By Reuters Staff
1 Min Read
WASHINGTON (Reuters) - The presidents of the Federal Reserve’s 12 regional banks, officials who oversee bank regulation and share duties setting monetary policy with the central bank’s Washington-based Board of Governors, have been appointed to new five-year terms beginning March 1, the central bank announced on Thursday.
The reappointments, along with those of the sitting vice presidents, were recommended by the local boards of directors that oversee each regional bank and accepted by the board.
Fed presidents appointed before they turn 55 must retire by their 65th birthday, the central bank’s rules stipulate. That means Boston Fed President Eric Rosengren can serve only until June 2022, and both Chicago Fed President Charles Evans and Kansas City Fed President Esther George can only serve until January 2023.
1/17/2021 2:44:04 PM GMT
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Another change that could put pressure on stocks moving forward is the possibility of rising inflation as the Fed pledges to keep rates low and its monetary stimulus programs running. (Doubleline CEO and founder Jeffrey)Gundlach pointed to a comment made by Chicago Fed President Charles Evans on Jan. 4. Then, Evans said, “The more we get inflation up above 2% then markets are going to understand that, yes, we’re in it to win it.” Gundlach, who expects the consumer price index a widely followed inflation metric to hit 3% in its May/June report, said inflation “is a real game changer, should it occur.” – Fred Imbert, “Jeff Gundlach Says Stock Valuations Are Extraordinarily High, Supported Only by the Fed,” www.cnbc.com, January 11, 2021.