Daily Archives: March 16, 2012

Claire Jones

Our week ahead email helps you to track the most important events in central banking. To see all of our emails and alerts visit www.ft.com/nbe

Bernanke goes back to school

Ben Bernanke, Fed chairman, next week delivers the first two of four lectures to undergraduates at the George Washington University School of Business. Read more

Robin Harding

The Federal Reserve Bank of Kansas City has today announced the appointment of Troy Davig as its new director of research.

“Troy Davig has been named senior vice president and director of research. Davig had served at the Bank from 2005 to 2010 in the Economic Research Department. He is rejoining the Bank after serving as senior U.S. economist for Barclays Capital since 2010. As director of research, Davig will act as the Bank’s chief economic policy advisor, provide executive oversight for the Bank’s Economic Research Division and serve as a member of the Bank’s Management Committee, which has responsibility for the Bank’s strategic planning and policy.”

Although low profile, the twelve research directors of the regional Fed banks are very important to monetary policy, especially when the president of the bank is not a macroeconomist. Esther George, who was appointed president in Kansas City last October, is mainly known for her work on bank regulationRead more

Claire Jones

The news of Hector Sants’ resignation on Friday came as a shock. But the reason for his departure – frustration at the progress of the integration of the Financial Services Authority into the Bank of England – should come as little surprise.

Integrating the FSA’s prudential regulators into the Bank was always going to be fraught with difficulty.

One problem that officials with experience of both the FSA and the Bank often mention is of trying to reconcile the cultural differences between regulators, who are often better paid, and economists, some of whom regard themselves as intellectually superior.

Having Mr Sants fill one of the three deputy governor seats at the Bank (and head the Prudential Regulation Authority) would have gone some way to reconciling those differences.

Who will speak up for the regulators now? Read more