Tuesday, July 21, 2015

White House Names Well Traveled Establishment Professor for Fed Board

Kathryn M. Dominguez
President Obama announced late yesterday his intention to nominate Kathryn M. Dominguez, an economics and public policy professor University of Michigan, to fill the final remaining open slot on the Federal Reserve Board.

She is also a Research Associate at the National Bureau of Economic Research.

She hjas in the past taught at Harvard Univeristy's Kennedy School of Government, Princeton's  Woodrow Wilson School of Public and International Affairs, the London School of Economics, and the Goldman School of Public Policy at UC Berkeley and worked as a research consultant for the Federal Reserve System, the International Monetary Fund, the World Bank and the Bank for International Settlements.

She received a PhD from Yale.

Dominguez is a dual citizen of the United States and Ireland.

She appears to be a specialist in foreign exchange interventions, Traders note well, she has written in a paper titled, The Market Microstructure of Central Bank Intervention, where she comments on the best time for central banks to intervene in foreign exchange markets:
{T]he evidence suggests that the timing of intervention operations matter – interventions that occur during heavy trading volume and that are closely timed to scheduled macro announcements are the most likely to have large effects.
She also seems to be aware that central bank interventions are a crooked business. In the same paper, she also wrote:
[R]esults indicate that some traders know that a central bank is intervening at least one hour prior to the public release of the information in newswire reports. 


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