Whether Federal Reserve Bank presidents have the right to vote on the U.S. monetary policy committee depends on a mechanical, yearly rotation scheme. Rotation is without exclusion: also nonvoting presidents attend and participate in the meetings of the committee. Does voting status change...

In these remarks, Paul Tucker, Executive Director for Markets and Monetary Policy Committee (MPC) member, notes that social, political and historic factors affect the choice of monetary policy decision-making structures in different countries. In the United Kingdom, the MPC sets Bank Rate on a...