• Fed’s seven-person board

• How many Fed governors does the president appoint?

• https://www.federalreserve.gov/newsevents/pressreleases/monetary20220504b.htm - Plans for Reducing the Size of the Federal Reserve's Balance Sheet

• Fed's balance sheet - https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
• https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm - contains links to the FOMC minutes.
  • Example: https://www.federalreserve.gov/monetarypolicy/fomcminutes20220727.htm shows the minutes of July 26-27th, 2022 FOMC meeting. The minutes were released on Wed August 17th, 2022 at 2 PM.
• https://www.stlouisfed.org/open-vault/2019/may/how-read-fomc-statement - talks about how to read an FOMC statement. Good information density.
• https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm - shows the history of fed's assets.
• How the Fed Works (howstuffworks.com) - reads well; high information density.

1) In https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm , I see “FOMC Statement” and “FOMC Minutes”. What is the difference between the two?

A) The FOMC releases the “FOMC statement” after each FOMC meeting. The “FOMC Minutes” are released sometime later. For example, the Fed announced new rates on Wed 2022-05-04 at 2 pm. On 2022-05-05, I see the “statement” on the website but not the “minutes”.

tags | fed minutes

• https://fred.stlouisfed.org/series/WALCL - Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level (WALCL)