NY Fed President Dudley to Retire in Mid-2018

The video discusses the changes in the Federal Reserve's leadership, focusing on the retirement of Bill Dudley, the New York Fed president, and the implications of this change. It explains the nomination process for Fed board members and the search for Dudley's replacement. The video highlights the potential impact on the Open Market Committee and the importance of institutional memory. The search for a new president is led by Sarah Horowitz and Glenn Hutchins, with a focus on maintaining stability and continuity in the Fed's operations.

What is the main consequence of Bill Dudley's retirement from the Federal Reserve?

• A decrease in interest rates

• A vacuum in experience and institutional memory

• An increase in inflation

• A change in the Federal Reserve's location

Who is responsible for nominating the members of the Federal Reserve Board?

• The President of the United States

• The New York Fed President

• The Federal Reserve Board in Washington

• The Senate

What is unique about the nomination process for a regional Fed president?

• It is different from the process for board members

• It involves a public vote

• It requires approval from the Senate

• It is similar to a reality TV show

Who is leading the search committee for Bill Dudley's replacement?

• Sarah Horowitz and Glenn Hutchins

• Janet Yellen

• James Gorman

• Jay Powell

What is the role of bank members in the Fed board's search process?

• They have veto power

• They are not allowed to participate

• They lead the search committee

• They nominate the candidates