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Why is this woman working as the head of the treasury now? I thought the whole point of the Fed being outside the control of democratically elected officials wa
by goodSteveramos 4y ago
Why is this woman working as the head of the treasury now? I thought the whole point of the Fed being outside the control of democratically elected officials was to clearly separate the Fed from the Treasury, but i guess its all just the same people running both?
- 7speter 4y agoShe doesn’t work for the fed anymore. Trumpreplaced her with Jerome Powell in 2018
- ElevenLathe 4y agoEffectively, yes. Fed is definitely a political entity and its political layer (as opposed to the civil servants/career bureaucrats) is appointed from the same circles of finance industry/DC insiders as cabinet officials (like Treasury Secretary) are. That said, Yellen never technically held both jobs at the same time. It's another revolving door issue, similar to military procurement officers stepping into defense contractor jobs, or SDNY prosecutors stepping into law practices that focus on defending clients in the same kinds of cases (sometimes exactly the same cases) that they were just prosecuting.