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President Donald Trump often blames his monetary policy frustrations on Federal Reserve Chairman Jerome Powell. But interest rates are determined by a group of central bankers and not by Powell alone.
Members of the Federal Open Market Committee usually meet eight times a year to vote on the federal funds rate. Seven members of the Board of Governors still vote – there are currently two vacant seats for which Trump is planning appointments.
Fed presidents from across the country take turns at the FOMC every year, although the bank's New York executive is still voting.
According to the badysis of Bank of America Merrill Lynch, here is who will be part of the committee until 2021 and how he tends to see monetary policy. The doves of inflation are perceived as more concerned about employment than about rising prices, while the warmongering authorities tend to favor higher interest rates.
Governors
Presidents
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