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The Business Page

Welcome to the business page, a blog where I'll take you behind the scenes of greater Rochester's fast-changing economy. My name is Ben Rand, and I intend to introduce you to some of the personalities, concepts and events that make news in business here. I've been a business reporter for eight years in Rochester and a journalist for 18, working in four states. I grew up in Pittsford, but moved away after college for about a decade. My wife and I live in Irondequoit with our two children.

Wednesday, June 07, 2006

UR Professor Goes Big Time

He's not talking to us about it, but UR professor Charles Plosser has landed a prestigious appointment that will help shape the nation's monetary policy. Plosser was named as president of the Federal Reserve Bank of Philadelphia, a spot that gives him a seat on the Federal Open Market Committee. That committee sets interest rates, which in turn control the availability of money. Here's a story about the appointment from Reuters and a lengthier piece from the Philadelphia Inquirer. Want to learn more about the Federal Reserve and how it works? Follow this link.

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