[Pelham]

The NY Fed is where the trading desk is. That’s not exactly big news.

[dennisw]

You omit that the NY Fed is where the bankster's skullduggery takes place. The Wash DC Fed is just a huge PR machine, a huge affirmative action bureaucracy doing useless studies and glad handing Congress and other Central Bankers. <<<<>>>>> After all those billions spent on absolutely worthless shit, then the Fed sends the rest to the US Treasury.