The FOMC (Federal Open Market Committee) held its last meeting of 2014 on December 17, 2014. As has become customary starting under the previous Federal Reserve Chairman Ben Bernanke, a press conference is held thereafter giving the public and media an opportunity to ask questions of the sitting chair about current and/or future strategy and policy.
A few key points that were touched on in the press conference were falling oil prices, three committee member dissent of current policy direction, Russia’s impact on the global economy, and an emphasis that every meeting is a “live” meeting where the committee could alter their strategic policy.
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2014 Members of the Federal Open Market Committee
- Janet L. Yellen, Board of Governors, Chair
- William C. Dudley, New York, Vice Chairman
- Lael Brainard, Board of Governors
- Stanley Fischer, Board of Governors
- Richard W. Fisher, Dallas
- Narayana Kocherlakota, Minneapolis
- Loretta J. Mester, Cleveland
- Charles I. Plosser, Philadelphia
- Jerome H. Powell, Board of Governors
- Daniel K. Tarullo, Board of Governors
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