#Fed nominee Fischer, on doing your job in the face of attacks from politicians or the media: “the dogs bark and the caravan moves on”
PALO ALTO, California (Reuters) – Stanley Fischer, U.S. President Barack Obama’s pick for the No. 2 job at the Federal Reserve, said on Friday that decades of crisis-fighting have taught him the importance of making policy decisions quickly, even before all relevant data is in hand.
“We tend to underestimate the lags in receiving information and the lags with which policy decisions affect the economy,” he said in remarks prepared for delivery to the Stanford Institute on Economic Policy.
March 14 (Reuters) – The Federal Reserve pumped $79.6
billion into the U.S. Treasury last year, audited results showed
on Friday, a big payday for the government thanks to the central
bank’s massive bond-buying program.
The income derived largely from $90.4 billion in interest on
Treasury bonds and mortgage-backed securities. Total Fed bank
assets stood at $4 trillion at the end of last year, according
to the results, audited by Deloitte.