Federal Reserive Board It Is Capacity

Bernadette - June 1 2012, 12:35 AM

The Federal Reserve Board is at full capacity for the first time since 2006. "With the swearing in of a seventh Federal Reserve board member, the panel is operating at full strength for the first time since 2006, amplifying the activist stamp of President Barack Obama.

Mr. Obama appointed six of the seven, including naming Fed Chairman Ben Bernanke to his second term. His picks for the central bank's board--and the demands of steering the economy from the brink of financial collapse--have pushed the Fed to adopt easy money policies to spur growth and to write new rules aimed at making the financial system safer.

Fed governors also have prodded federal agencies and Congress to do more to help heal the housing market, sparking criticism that they have strayed beyond their mandate.

Mr. Bernanke on Wednesday swore in the board's seventh member, former Harvard economics professor Jeremy Stein." Kristina Peterson in The Wall Street Journal.

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