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Fed Chair Warsh names policy veterans Winfree, Heil as interim advisers, WSJ reports

BY Reuters | ECONOMIC | 04:36 PM EDT

June 2 (Reuters) - Federal Reserve Chair Kevin Warsh has tapped two conservative policy veterans, Paul Winfree and Daniel Heil, to advise him while he settles into the job, the Wall Street Journal reported on Tuesday, citing sources.

Winfree and Heil would work as temporary contractors to support Warsh on policy analysis and planning, the report said, adding the chair had made no final decisions about more permanent roles at the central bank.

Reuters could not immediately verify the report.

(Reporting by Mrinmay Dey in Mexico City; Editing by Chris Reese)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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