Posted on 03/03/2006 12:35:02 PM PST by Recovering_Democrat
NEW YORK (CNNMoney.com) - Few presidents have had the opportunity to shape the Federal Reserve the way President Bush has this year.
Once Bush replaces Vice Chairman Roger Ferguson, the only Democrat on the Fed's board who resigned recently, four of the Fed's seven governors will have taken office in 2006, and all seven will be Bush appointees.
Ben Bernanke became Fed chairman on Feb. 1, but he still has more seniority than two other Fed governors, with a third appointment due soon.
That would make Bush only the third president to place all seven governors on the board, after Ronald Reagan in 1988 and Franklin Roosevelt in 1936.
The new Fed members, and their relative lack of seniority at the central bank, could end up having a big impact on your finances.
(Excerpt) Read more at money.cnn.com ...
If only Bush could do the same with the supreme court...
Where were the CNN articles complaining that Clinton had FIRED all the major federal prosecutors?
or the WH staff? We had 2 weeks of the "chef story". Maybe they dont like us, hmmm.
Bring on more conservatives!
Has anyone told Lew Dobbs? When he finds out keep cnn's latest political pundit and full time Bush basher away from open windows in tall building's!
How about abolishing the Fed and giving the right to print money back to the Congress?
Dobbs is just so despicable. Perfect for CNN.
Thank you for this post on a crucially significant subject. I'm amazed that politicians are so inept at discussing monetary policy with their constituents. If people had an understanding of what the Federal Reserve has been doing to them, they would be on their feet (and probably out in the streets).
"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."-- President Andrew Jackson - (1824)
That he is. I feel like he's one of their lame attempts to attract conservative viewers. He just comes across to me as trying too hard.
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