Daily Archives: September 28, 2012

Former NY FED President McDonough is worried about your $4 million

By Lucy Komisar
(This post is courtesy of thekomisarscoop.com)

I was having lunch today at the Council on Foreign Relations before a meeting with one of the national leaders in town for the UN General Assembly. At my table was William F. McDonough, president of the New York Fed from 1993 to 2003. That meant he was vice chairman and a permanent member of the Federal Open Market Committee (FOMC), which formulates U.S. monetary policy.

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