Posted on 02/24/2023 6:05:21 AM PST by millenial4freedom
(Reuters) – A record number of women and minorities hold seats this year on the boards of the Federal Reserve’s 12 regional banks, providing perhaps the most diverse range of input ever as those banks’ presidents – alongside Fed governors in Washington – wrestle with how to slow inflation without tanking the economy.
Fed bank directors generally stay out of the limelight, but many U.S. central bankers view them as a critical resource. Indeed, some argue prospects for a best-case outcome to their policy-tightening campaign are heightened by the advice from such a wide spectrum of voices.
“I think the probabilities are far higher of achieving that gentle transition, that smoother transition,” San Francisco Fed President Mary Daly told Reuters in an interview.
These are highly educated people actually arguing that not hiring the best and most qualified people will result in better outcomes. What a bunch of dumb*****!
They are criminally insane
Yep
FTA “Indeed, some argue prospects for a best-case outcome to their policy-tightening campaign are heightened by the advice from such a wide spectrum of voices.”
Supposedly the top of their profession and cannot even see how one does not follow the other, Zero logic employed. Being a different race or gender has no bearing on improved reasoning.
Hopefully the hires include women who shop for groceries (and black men handy around the house who shop at Lowe’s & Home Depot).
“These are highly educated people actually arguing that not hiring the best and most qualified people will result in better outcomes. What a bunch of dumb*****!”
The people who drove housing prices beyond the reach of most young working families by temporarily lowering interest rates were not very bright bunches.
I dont care who is on the fed board, and their historical batting average is no better than a random walk. When you have only a hammer, everything is treated like a nail.
Got a home price problem, got to limit lending in the overheated regions while not killing off the other regions. Banks are not allowed to do that because at some point it will be some type of redlining, so the biggest tool comes in, all rates when you had a home price problem.
Got auto loans giving 90 months to everyone and average prices hitting 50k, limit auto loans to 60 months for 3 years and see what happens. But that makes cars unavaiable to the SJW for a short time until the smaller cars with less features start poping off the assembly line. So one is stuck in their beilfs and cannot forsee simple change lending policy in an industry, but still there is the biggest tool, so the central banks do that.
Grounding the entire school district because sally and jane got in trouble on the field trip. Central bankers are simple bitches. That they fell for SJW economic theory is not a surprise.
“Reasoning” is in large part applied to the knowledge of facts, such as the massive increases in price of many things.
Oh, yeah. More Janet Yellins—that’s the answer!
*Yellens
When I was born house financing was mainly local. The growth of local housing prices was limited by the availability of local funds and S&L conservatism.
By the 1960s California was sucking in money nationwide. My father made lots of money from it. In the 1970s, California housing prices exploded as expanding metropolitan areas covered available land.
By the 1980s, housing finance was national.
Send factory jobs to China weakened housing prices in factory towns.
Federal Reserve attempts to prop up housing prices in legacy communities to keep real estate taxes sufficient for school funding means overheating housing prices in coastal areas.
Ad valorem taxation instead of say square root of square footage house taxation means raising housing prices is financially remunerative for governments.
Square root of square footage house taxation would allow a 1600 square foot urban house in say Newark, NJ to contribute 80% as much to school funding as a 2500 square foot suburban house in say Bedminster, NJ. In Metro NY, suburban homeowners are getting fleeced big time while urban landlords are not coming close to paying a fair share of real estate taxes.
Fed bank chiefs see lower chances of policy error.
Because they don’t know what numbers are some type of code to them.
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