Dean, School of Business & Public Management, George Washington University, and former member, Board of Governors of the Federal Reserve
A former member of the Board of Governors of the Federal Reserve
System, Brimmer says African Americans will improve their relative employment and income positions, but the job and income deficit will narrow very little--and perhaps may even widen.
Yet over the next eighteen months the Bush team will enjoy perhaps an even greater opportunity to shape the Board of Governors of the Federal Reserve
. White House insiders note that to date no less than three Fed board slots are expected to become vacant.
The responsibility for making sure the economy negotiates this delicate balance lies with the seven-member Board of Governors of the Federal Reserve
System and five regional Federal Reserve Bank presidents.
The Board of Governors of the Federal Reserve
System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision (the agencies), and the Conference of State Bank Supervisors asked insured depository institutions on September 1, 2005, to consider all reasonable and prudent steps to assist customers' and credit union members' cash and financial needs in areas affected by Hurricane Katrina.
Alan Greenspan, chairman of the Board of Governors of the Federal Reserve
System, called this amount the "implicit liability" of social insurance programs.