Fed Focus, and Will China and U.S. Talk This Weekend?
Key Takeaways
  • Biden’s pick for National Economic Council leaves a key Fed vacancy that is unlikely to be filled before the next FOMC meeting.
  • This weekend’s Munich Security Conference will be the setting for a possible meeting between Secretary of State Antony Blinken and his Chinese counterpart, Wang Yi, in the wake of the spy balloon incident.
  • Senate leaders Chuck Schumer (D-NY) and Mitch McConnell (R-KY) will also attend the conference, in part to demonstrate bipartisan support for Ukraine.

The past week began with the widely expected official announcement that Fed Vice Chair Lael Brainard will leave the Board to become President Biden’s director of the National Economic Council. In this position, she will be playing a key role in developing the Administration’s future economic policy.

The departure of the Vice Chair leaves an important opening at the central bank and jockeying for the position has already begun. Several Hispanic Members of Congress are suggesting that it is way past time that a Hispanic serve on the Federal Reserve Board. The timing of the replacement is uncertain, but the new Board member is unlikely to be nominated and confirmed prior to the next meeting on March 21/22.

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'use strict'; jQuery(document).ready(function($) { //switch from monthly to annual pricing tables bouncy_filter($('.pricing-container')); }); function checkScrolling(tables) { tables.each(function() { var table = $(this), totalTableWidth = parseInt(table.children('.pricing-features').width()), tableViewport = parseInt(table.width()); if (table.scrollLeft() >= totalTableWidth - tableViewport - 1) { table.parent('li').addClass('is-ended'); } else { table.parent('li').removeClass('is-ended'); } }); } function bouncy_filter(container) { container.each(function() { var pricing_table = $(this); var filter_list_container = pricing_table.children('.pricing-switcher'), filter_radios = filter_list_container.find('input[type="radio"]'), pricing_table_wrapper = pricing_table.find('.pricing-wrapper'); //store pricing table items var table_elements = {}; filter_radios.each(function() { var filter_type = $(this).val(); table_elements[filter_type] = pricing_table_wrapper.find('li[data-type="' + filter_type + '"]'); }); //detect input change event filter_radios.on('change', function(event) { event.preventDefault(); //detect which radio input item was checked var selected_filter = $(event.target).val(); //give higher z-index to the pricing table items selected by the radio input show_selected_items(table_elements[selected_filter]); //rotate each pricing-wrapper //at the end of the animation hide the not-selected pricing tables and rotate back the .pricing-wrapper if (!Modernizr.cssanimations) { hide_not_selected_items(table_elements, selected_filter); pricing_table_wrapper.removeClass('is-switched'); } else { pricing_table_wrapper.addClass('is-switched').eq(0).one('webkitAnimationEnd oanimationend msAnimationEnd animationend', function() { hide_not_selected_items(table_elements, selected_filter); pricing_table_wrapper.removeClass('is-switched'); //change rotation direction if .pricing-list has the .bounce-invert class if (pricing_table.find('.pricing-list').hasClass('bounce-invert')) pricing_table_wrapper.toggleClass('reverse-animation'); }); } }); }); } function show_selected_items(selected_elements) { selected_elements.addClass('is-selected'); } function hide_not_selected_items(table_containers, filter) { /*for(let i; i < table_containers.length; i++) { if(i != filter) { table_containers[i].classList.remove('is-visible is-selected').add('is-hidden'); } else { table_containers[i].classList.add('is-visible').remove('is-hidden is-selected'); } }*/ $.each(table_containers, function(key, value) { if (key != filter) { $(this).removeClass('is-visible is-selected').addClass('is-hidden'); } else { $(this).addClass('is-visible').removeClass('is-hidden is-selected'); } }); } function switch_pricing_table_to_yearly() { const pricing_table_monthly_button = document.getElementById('monthly-1'); if (pricing_table_monthly_button.checked) { const pricing_table_yearly_button = document.getElementById('yearly-1'); pricing_table_monthly_button.checked = false; pricing_table_yearly_button.checked = true; const event = new Event('change'); pricing_table_yearly_button.dispatchEvent(event); } } function switch_pricing_table_to_monthly() { let pricing_table_monthly_button = document.getElementById('monthly-1'); if (!pricing_table_monthly_button.checked) { let pricing_table_yearly_button = document.getElementById('yearly-1'); pricing_table_yearly_button.checked = false; pricing_table_monthly_button.checked = true; jQuery('#monthly-1').trigger('change'); } }
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