OMG! Obama Moves Quickly to Populate the Fed, Announces 2 Possible Board Picks
Pic credit: married to the sea
Suddenly concerned with filling up vacancies at the Fed Board of Governors, Obama is busting his ass to get his picks into the temple on 20th and Constitution. I need not even express my skepticism, I'm sure you all already know how I feel.
Moving quickly to put its mark on the Federal Reserve, the White House on Friday identified two economists and a lawyer as its choices to fill all three vacancies on the central bank’s board of governors, a senior administration official said.
The economists are Janet L. Yellen, president of the Federal Reserve Bank of San Francisco, who is the top choice for vice chairwoman, and Peter A. Diamond, an M.I.T. economist who is an authority on Social Security, pensions and taxation. The lawyer, Sarah Bloom Raskin, is the Maryland commissioner of financial regulation.
The Obama administration stopped short of saying that it would formally nominate all three to the Senate, stating only that Ms. Yellen was “a leading contender” and that Mr. Diamond and Ms. Raskin were “under consideration,” the administration official said.
Bizarre, why now? I could make a few wild guesses and probably be 95% right (politicizing the Fed anyone?) but the Obama administration's timing is the most suspect aspect of all.
In case you missed it, I'm still freaking out over the whole Janet Yellen thing and don't want to talk about it.