Monetary policy

All Federal Reserve banks felt the discount rate should remain at 1.75%, given “soft” inflation levels, according to the minutes of the discount rate meeting, released Tuesday.

White House economic adviser Gary Cohn is emerging as the clear front-runner for the nomination to succeed Federal Reserve Chair Janet Yellen, according to a National Association for Business Economics survey.

Federal Reserve Chair Janet Yellen will join European Central Bank President Mario Draghi in Jackson Hole, Wyo., next week, setting the stage for a potentially revealing debate over the common challenges facing the world’s two most powerful central banks.

Federal Reserve officials engaged in a detailed debate about inflation while keeping the door open for a September announcement on the timing of balance-sheet reductions, according to minutes from their policy meeting in July.

With inflation slipping in recent months and not hitting the Federal Reserve’s 2% target in years, Federal Reserve Bank of Atlanta President Raphael Bostic urged a “wait and see” approach on rate hikes in a televised interview Wednesday.

Federal Reserve Bank of New York President William Dudley said former Goldman Sachs executive Gary Cohn was a “reasonable candidate” for the job of Fed chief.

Federal Reserve Bank of New York President William Dudley said it isn’t unreasonable to expect the central bank to announce plans in September to start trimming its balance sheet and said he supports another interest-rate increase this year if the economy evolves as he expects.

Noting that predictions of higher inflation have been wrong for years, Federal Reserve Bank of Minneapolis President Neel Kashkari said Friday, the Fed can afford to wait to raise rates and that’s why he’s dissented on the last two rate hikes.

Federal Reserve Bank of New York President William Dudley offered a positive outlook for the U.S. economy, job market and inflation on Thursday, saying better conditions would help support the most vulnerable Americans.

Federal Reserve Bank of St. Louis President James Bullard said Janet Yellen’s successor should consider holding press conference after every policy meeting, if she isn’t picked for a second term at the helm of the U.S. central bank.