Fed's Fischer to Step Down in Mid-October

The transcript discusses the resignation of Stanley Fischer from the Federal Reserve and its impact on the board, highlighting the resulting vacancies and potential effects on monetary policy. It speculates on the reasons for Fischer's departure and touches on the uncertainty surrounding Gary Cohn's potential nomination as Fed chair, considering political dynamics and loyalty issues.

What was one of the main concerns following Stanley Fischer's resignation from the Federal Reserve?

• The rise in inflation

• The vacancies on the board

• The lack of international support

• The increase in interest rates

How might the vacancies on the Federal Reserve Board affect monetary policy?

• By stabilizing the economic policies

• By giving more voting power to Reserve Bank presidents

• By increasing the number of governors

• By reducing the influence of the FOMC

What is the new voting dynamic in the FOMC due to the current vacancies?

• 6 Presidents and 2 Governors

• 4 Presidents and 4 Governors

• 5 Presidents and 3 Governors

• 3 Presidents and 5 Governors

What are some speculated reasons for Stanley Fischer's resignation?

• Desire to pursue a political career

• Personal or health-related issues

• Disagreement with monetary policy

• Pressure from international bodies

Why might Gary Cohn not be nominated as the Fed chair?

• As a result of his health issues

• Owing to his international reputation

• Because of fallout from the Charlotte episode

• Due to his lack of experience