But, as a relative newcomer, I’ve been impressed with how the dialogue within the meeting room is always fundamentally grounded in a deep respect for the job at hand and for each other. Second, my description of an FOMC meeting highlights how the structure of the FOMC mirrors the federalist structure of our government.
Figure 2: Number of Banks in Germany 1950-2018  Source: Deutsche Bundesbank, Monthly Balance Sheet Statistics  The process of consolidation, which had been evident for some time, gained traction in the 1990s. This holds especially true for the cooperative bank sector with its very large branch network, as credit institutions set out to streamline costs.