FOMC

Having vacancies on the Federal Reserve Board makes it “more difficult,” Federal Reserve Bank of Atlanta President Raphael Bostic said Thursday.

Federal Reserve Governor Randal Quarles delivered an upbeat assessment of the U.S. economy and endorsed a “gradual” path for raising interest rates in his first public speech on monetary policy since joining the central bank in October.

Federal Reserve officials grew more positive on the economic outlook, citing “substantial underlying economic momentum,” and were increasingly optimistic about achieving their inflation target, according to minutes of last month's policy meeting.

Calling for gradual and patient interest rate hikes, Federal Reserve Bank of Dallas President Rob Kaplan warned that three major challenges to the economy’s health must be addressed.

With inflation remaining stubbornly low, Federal Reserve Bank of Philadelphia President Patrick T. Harker said Wednesday he’s “penciled in” two rate hikes this year.

The White House is considering Federal Reserve Bank of Cleveland President Loretta Mester for central bank vice chair.

Federal Reserve Chairman Jerome Powell said the U.S. central bank had made great progress in its pursuit of full employment and stable prices but was on the lookout for threats to the economy amid turmoil in financial markets.

Federal Reserve Bank of Cleveland President Loretta Mester suggested Tuesday three rate hikes would be appropriate this year and next.

As the Baby Boom generation retires, economic growth may slow and fiscal deficits could grow, complicating monetary policy, Federal Reserve Bank of Kansas City President Esther George said late Thursday.

Discounting market volatility, Federal Reserve Bank of New York President William Dudley Thursday expressed confidence in the economy’s strength and said the Fed’s projections of three rate hikes this year “seem reasonable.”