Anyone appointed to the Fed is window dressing. They set their own rules to make themselves money.
Why do people act as though the Fed is in any way part of the US Gov’t? They are a non governmental institution owned by a group of banks.
“Why do people act as though the Fed is in any way part of the US Gov’t?”
Because the enabling legislation that created the Fed was passed by Congress, would be my guess.
You dont think that Presidential appointments to head the Fed are not crucial?
I understand they are an “Independent” bank. But the BOG are about as political as you can get.
Getting rid of the Keynsians on the Board would be a nice step.