financetom
Economy
financetom
/
Economy
/
Fed's Waller calls for overhaul of regional Fed bank operations
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fed's Waller calls for overhaul of regional Fed bank operations
Apr 21, 2026 11:56 AM

April 21 (Reuters) - Federal Reserve Governor Christopher Waller on Tuesday laid out his vision for revamping the operational structure of the Federal Reserve system's 12 regional banks, calling for consolidation of key business functions like human resources, finance, procurement and technology rather than leaving them under the local direction of each bank.

"We need to do more to centralize our operations into national lines of business and move away from having individual Reserve Banks managing operational infrastructure from a Bank mindset instead of a System mindset," Waller said in remarks prepared for an appearance at the Brookings Institution in Washington.

Waller did not comment on the outlook for the economy or interest rates with officials now in the blackout period ahead of next week's monetary policy meeting.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US existing home sales drop in March; median price increases
US existing home sales drop in March; median price increases
Apr 18, 2024
WASHINGTON (Reuters) - U.S. existing home sales fell in March as higher interest rates and house prices sidelined buyers from the market. Home sales dropped 4.3% last month to a seasonally adjusted annual rate of 4.19 million units, the National Association of Realtors said on Thursday. Economists polled by Reuters had forecast home resales slipping to a rate of 4.20...
March US Leading Economic Index Declines More Than Expected After February Gain
March US Leading Economic Index Declines More Than Expected After February Gain
Apr 18, 2024
10:44 AM EDT, 04/18/2024 (MT Newswires) -- The Conference Board's measure of leading economic indicators declined by 0.3% in March, a larger drop than the expectations for a 0.1% decrease in a survey compiled by Bloomberg as of 7:35 am ET and following a 0.2% increase in February. February's uptick in the U.S. LEI proved to be ephemeral as the...
Jobless Claims Remain Unchanged From Prior Week's Level
Jobless Claims Remain Unchanged From Prior Week's Level
Apr 18, 2024
10:17 AM EDT, 04/18/2024 (MT Newswires) -- Weekly applications for unemployment insurance in the US came in lower than Wall Street's expectations, according to government data released Thursday, reflecting a robust labor market. The seasonally adjusted number of initial claims remained flat at 212,000 in the week ended April 13, the US Department of Labor said. The consensus was for...
Fed's Williams doesn't see urgent need to cut interest rates
Fed's Williams doesn't see urgent need to cut interest rates
Apr 18, 2024
NEW YORK (Reuters) - New York Federal Reserve President John Williams said on Thursday the strong state of the U.S. economy means there's no pressing case to lower interest rates right now. I definitely don't feel urgency to cut interest rates given the current strength of the economy, Williams said at the Semafor's World Economy Summit in Washington. We have...
Copyright 2023-2026 - www.financetom.com All Rights Reserved