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 significance of having a new vice chairman in the Federal Reserve?

Discuss the potential changes in the Federal Reserve's board composition with Janet Yellen's expected departure.