Poole replaced on Fed policy vote

In a surprise development, William Poole, the president of the St Louis Federal Reserve, did not vote on the Federal Open Market Committee (FOMC) policy announcement on recent market volatility.

Poole, who is due to remain a member of the FOMC until January 2008, was replaced at Thursday night's conference call by Richard Fisher, president of the Dallas Federal Reserve. Fisher is not set to join the committee until next January.

In response to a query by Central Bank News, the St Louis Fed sa

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