The Agenda for Major Bankster Insider Meeting, Being Held Friday

The Investor Advisory Committee on Financial Markets serves as a forum for informal discussions on financial, economic and public policy issues between the New York Federal Reserve and bankster insiders. The insiders that are members of the IACFM are:

Nicole Arnaboldi
Vice Chairman of Alternative Investments
Credit Suisse Group

Louis Bacon
Chairman, Chief Executive Officer
and Founder
Moore Capital Management LLC

James Chanos
Founder and President
Kynikos Associates

Mary Callahan Erdoes
Chief Executive Officer
J.P. Morgan Asset Management

Mohamed El-Erian
Chief Executive Officer
and Co-Chief Investment Officer
Pacific Investment Management Company

Garth Friesen
Principal
III Associates

Joshua Harris
Managing Partner
Apollo Management L.P.

Alan Howard
Co-Chief Executive Officer
and Chief Investment Officer
Brevan Howard Asset Management LLP


Scott Malpass
Vice President and Chief Investment Officer
University of Notre Dame

Sir Deryck Maughan
Partner and Head of Financial Services Group
Kohlberg Kravis Roberts & Co.

Michael Novogratz
Principal
Fortress Investment Group LLC

Rick Rieder
Chief Investment Officer
BlackRock, Inc.

Lawrence Schloss
Chief Investment Officer and
Deputy Comptroller for Pensions
NYC Public Pension Funds

Morgan Stark
Managing Member
Ramius LLC

David Tepper
Founder and President
Appaloosa Management L.P.

These are the elite of the elite. They are scheduled to meet tomorrow in the New York Fed building. EPJ has obtained a copy of the meeting agenda (see below). It is noteworthy the detail of the planned discussion on monetary policy. Who really runs monetary policy? It looks like it is these guys.

Investor Advisory Committee on Financial Markets
Chairman: William Dudley
33 Liberty Street, 10thFloor
New York, NY 10045 

Friday, October 5, 2012; 11:00 am – 2:00pm

Meeting Agenda 

Monetary Policy

• How do members assess the outlook for the evolution of the Federal Reserve’s
balance sheet? 

• What does the term structure of interest rates imply about long-term growth
prospects, inflation expectations and the policy outlook?

• How do members assess the efficacy of the additional policy measures
announced at the September FOMC meeting? What are views on transmission
to the real economy, and how have these views evolved over recent months? 

• Have members’ views evolved on the FOMC’s reaction function to the economic
outlook? 

• How has the interaction of monetary policy across central banks affected the
trajectory and outlook for global asset prices?

Other Domestic Policy Considerations

• What are current expectations around the fiscal tightening that is scheduled to
take place starting next year under current law? How does this inform the outlook
for the U.S. economy and domestic financial asset prices?

• Is uncertainty associated with the fiscal cliff impacting asset prices and/or
investment decisions by firms? 

Financial Landscape

• What do members see as the most impactful new financial products or
investment approaches? What are the associated risks?