Veteran Financial Reporter Andrew Ackerman Joins The Post's Economics Team

The Washington Post has announced a significant addition to its Economics team. Andrew Ackerman, a seasoned journalist with more than 13 years of experience covering financial regulation in Washington, is set to join the publication. Ackerman will be responsible for reporting on the Federal Reserve and financial regulatory policy.

Ackerman's move to The Post comes after a successful tenure at the Wall Street Journal, where he established himself as a prominent figure in financial journalism. His reputation for delivering impactful scoops about banks and financial regulation has made him a valuable asset in the field.

During his time at the Wall Street Journal, Ackerman broke several significant stories. He was the first to report on Equifax sending incorrect credit information to lenders, affecting millions of consumers. Equifax, one of the three largest consumer credit reporting agencies in the United States, plays a crucial role in the financial lives of many Americans.

More recently, Ackerman uncovered news of regulators' new investigation into the close relationship between large asset managers and U.S. banks. This story highlighted the ongoing scrutiny of the financial sector and its interconnected nature.

Ackerman's reporting during the 2023 banking crisis was particularly noteworthy. He broke the news that JPMorgan Chase, the largest bank in the United States by assets, was a leading contender to acquire the troubled First Republic Bank before federal regulators seized it in May 2023. This reporting contributed to Ackerman and his team winning a Society for Advancing Business Editing and Writing (SABEW) "Best in Business" award for breaking news coverage earlier this year.

At The Post, Ackerman will utilize his expertise in financial regulation to cover the Federal Reserve, an institution established in 1913 in response to a series of financial panics. The Federal Reserve System, which consists of 12 regional banks across the United States, is responsible for conducting monetary policy and promoting financial stability.

Ackerman's coverage will be particularly timely as the Federal Reserve is expected to embark on a new trajectory for the U.S. economy this fall. The central bank, currently chaired by Jerome Powell, is anticipated to implement the first of several interest rate cuts designed to prevent a recession. These decisions, made by the Federal Open Market Committee (FOMC), could potentially inject new energy into the housing and financial markets.

As part of his role, Ackerman will be tasked with explaining the implications of these monetary policy decisions to readers, helping them understand how changes in interest rates and other Federal Reserve actions may affect their daily lives. This aligns with the Federal Reserve's dual mandate of promoting maximum employment and stable prices.

Ackerman's expertise will also be valuable in covering the Federal Reserve's other responsibilities, such as conducting stress tests on large banks to assess their financial stability and setting reserve requirements for financial institutions. These aspects of financial regulation have become increasingly important since the 2008 financial crisis, which led to a significant expansion of the Federal Reserve's balance sheet and its role in maintaining economic stability.

The addition of Andrew Ackerman to The Washington Post's Economics team represents a commitment to providing readers with in-depth, expert coverage of financial regulation and monetary policy. His experience and track record of breaking important stories in the financial sector make him well-suited to lead the publication's coverage of the Federal Reserve and its impact on the U.S. economy.