A Chance to Build a More Inclusive Fed

摘要

The resignation of two Federal Reserve chiefs amid a stock trading scandal means an unexpected number of top monetary-policy jobs are coming up for grabs-and there'll likely be an unusually intense spotlight on who fills them. Eric Rosengren and Robert Kaplan, presidents of the Fed branches in Boston and Dallas, announced their retirements on Sept. 27 following disclosures about their trading activity last year. The departures leave as many as six seats that could be filled in the coming months, at a time when the central bank is under pressure to make its top ranks more diverse. The appointments could also change the outlook for policy. Members are split on what to do in 2022, with half wanting to raise interest rates to head off inflation and the others wanting to hold rates at zero.