Ex San Francisco Fed Chair, takes over in NY
Today is the first day for the new NY Fed President.
John Williams, who was the President of the San Francisco Fed, is taking over the more powerful NY Fed from the retiring William Dudley. The NY Fed Pres. has a permanent position on the FOMC board and is responsible for enacting monetary policy changes (the actual supply of money in the economy).
The SF Fed presidency will be taken by the bank's current first vice president, Mark Gould, but Gould will not take over the vote that Williams's had this year. That vote will go to the alternate President Esther George who is the Pres of the Kansas City Fed.
When a new President is found in SF, the vote will go back to whoever has that position. George is scheduled to become a voter in 2019 in her current seat in Kansas City. Hopefully by that time, a permanent Pres. will be found in SF.
George is thought to be more of a hawk.
