When will President Plosser be a voting member of the FOMC?
President Plosser was a voting member of the FOMC in 2008. He will be a voting member again in 2011. The New York Federal Reserve Bank president votes every year, the Chicago and Cleveland Federal Reserve presidents vote every other year, and the remaining nine Reserve Bank presidents vote every third year on a rotating basis. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee’s assessment of the economy and policy options.
President Plosser is a voting member of the FOMC during calendar year 2011. Nine of the 12 Federal Reserve Bank presidents vote on the FOMC every third year on a rotating basis. The New York Federal Reserve Bank president votes every year, the Chicago and Cleveland Federal Reserve presidents vote every other year. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee’s assessment of the economy and policy options.
