Federal Reserve governors; yield curve
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1. Go to the Federal Reserve's home page at www.federalreserve.gov .
a. Who is the chairman of the board? For how long has he or she served?
b. Who are the governors of the board?
c. The site publishes a short biography for each governor.
1.What experiences and/or degrees do all members have?
2. What experiences and/or degrees differ among members?
2. Go to the New York Fed's Web site at www.ny.frb.org/
research/current_issues/ci2-7.pdf to read "The Yield Curve as a Predictor of Recessions." Then answer the following questions:
a. Why should the steepness of the yield curve be a predictor of recessions?
b. Is the economy more likely to be headed for recession if there is a standard yield curve
or if the yield curve is flat or inverted? Explain your answer.
c. What is the current yield curve spread? What does this mean for future economic
activity?
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Solution Summary
Biographies of Federal Reserve governors; yield curve implications
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a. Who is the chairman of the board? For how long has he or she served?
Ben Bernanke has been the chairman of the Fed since 2006.
b. Who are the governors of the board?
The Board of Governors is chaired by Ben Bernanke. The other members are: Donald L Kohn, Kevin M Warch, Elizabeth A. Duke, and Daniel Tarullo.
c.
1.What experiences and/or degrees do all members have?
Bernanke was the chairman of Princeton's economics department prior to his appointment. He recieved his PhD from MIT in 1979 and was a Professor of Economics and Public Affairs at Princeton.
Donald L Kohn is the vice-chair of the board. A veteran member who began his carrer as a financial economist at the Federal Reserve Bank of Kansas City in 1970. He received his PhD in economics from the University of Michigan.
Kevin M. Warsh began his career in the private sector, as a merger specialist for ...
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