10 14 2018 | by Victor Xing | Capital Markets
09 23 2018 | by Victor Xing | Central Banks
Calm before the storm as quantitative tightening looms
05 20 2018 | by Victor Xing | Central Banks
Alternative narrative on the natural rate of interest
01 07 2018 | by Victor Xing | Capital Markets
Flatter yield curve a symptom of ineffective tightening
12 04 2017 | by Victor Xing | Central Banks
Bond market term premium and wolves of Yellowstone
10 17 2017 | by Victor Xing | Capital Markets
How we learned to stop worrying and love the “fake markets”
09 20 2017 | by Victor Xing | Central Banks
QE’s distributional effects a rising political liability
04 18 2017 | by Victor Xing | Capital Markets
Persistent low volatility threatens active fund managers
02 17 2017 | by Victor Xing | Economics
Looming risks through the prism of bifurcated housing market
01 11 2017 | by Victor Xing | Economics
Financial risk contagion: China’s capital outflow
11 16 2015 | by Victor Xing | Central Banks
Who is responsible for oversight of the Federal Reserve
Senior officials at the Federal Reserve (5 current members of the Board of Governors as well as Presidents of the 12) shape the central bank’s major regulatory, monetary policy, financial services, as well as administrative (hiring, etc) decisions, but the Federal Reserve System is still subject to additional oversight by outside entities.
The Federal Reserve is subject to oversight by the Congress (namelyand ). Additionally, the (GAO) conducts reviews and audits at the direction of the Congress and also under its own authority.
The most visible form of oversight is seen during the semi-annual Humphrey Hawkins testimony (also known as the)
The Federal Reserve’s external auditor is currently, and its most recent audit .
Oversight of the 12 Federal Reserve Banks are slightly different: each Reserve Bank’s board of directors selects its own Presidents (subject to approval by the Board of the Governors), and the Reserve Banks have their independent internal audit functions.
In essence, the Federal Reserve is self-governed and self-funded with oversight by the Congress and other federal agencies, and there is no external person or agency that controls the central bank.
Next article11 13 2015 | by Victor Xing | Financial Models