Notwithstanding some recent easing, market repricing of upside risks for the future trajectory of the federal funds rate in previous months led to outward pressures stronger than formerly anticipated.
This morning, the community and business leaders who serve on the Branch’s Board of Directors – including Bartlesville’s own K. Vasudevan – met here in Bartlesville, which seems especially appropriate. This is not the only connection between the Federal Reserve’s founding and Oklahoma. The Senate sponsor of the Federal Reserve Act was one of Oklahoma’s first senators, Robert Owen.