Trump Fed appointments: Pimco executive, Kansas bank commissioner

Trump Fed appointments: Pimco executive, Kansas bank commissioner

Bolstered by a recovering US economy and higher levels of confidence that the US Federal Reserve will achieve its target inflation in the near future, central bank rate setters have stated that future increases in borrowing costs could happen more quickly than originally anticipated over the next few years.

The Federal Reserve Board is seeking applications for new members of its Community Advisory Council (CAC) and is interested in candidates from several fields, including financial services and technology, asset and wealth building and housing and mortgage finance.

Both nominations would be subject to Congressional approval. Congress designated the community banker seat in 2014.

The vice chair job, which was vacant since Stanley Fischer stepped down in October a year ago, was considered as one of the most influential positions in the central bank alongside the chair and the president of the New York Fed.

Cash crunch returns as ATMs in many states go dry
Situation is worst in Madhya Pradesh where people are complaining that ATMs are non dispensing cash from the past 15 days. In some of the states, recalibration of ATM machines for Rs 200 notes have not been completed leading to shortage of cash.

Dr. Clarida is a managing director in the NY office and PIMCO's global strategic advisor.

Clarida, a Republican economist, has drawn comparisons to newly installed Fed Chairman Jerome Powell for a pragmatic approach to monetary policy. In articles written for PIMCO, Clarida has outlined views largely consistent with current Fed policy.

Bowman is now the Kansas State Bank Commissioner, the chief regulator for local banks and non-depository lenders.

Bowman's family owns Farmers & Drovers Bank in Council Grove, Kansas, according to the WSJ and she has been a vice-president since 2010. Ashton Whiteley analysts say the minutes of the meeting also revealed that Federal Reserve officials were undecided on whether March's policy meeting was the correct time to announce another rate increase this year.

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