The New York Fed, which serves as the U.S. central bank's eyes and ears on ...
- The New York Fed, which serves as the U.S. central bank’s eyes and ears on Wall Street, will split a powerful role that oversees both market operations and the Fed’s massive bond holdings, it said on Wednesday.
Potter managed the U.S. central bank’s portfolio, including trillions in bonds bought to support the economy after the 2008 global financial crisis, using its holdings to influence interest rates and other markets and advising the Fed’s policy-setting committee. The changes come at a critical time for the Fed, which cut rates last week for the first time since 2008 and is managing division over how to respond to risks including a deteriorating U.S.-China trade relationship and signs of a global slowdown. The Fed is also wrestling with how to manage nearly $4 trillion assets to prepare for the next downturn.
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