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The Chairman of The Fed has his assets being managed by a company that the Fed does business with. It's completely reasonable to assume a conflict of interest i

The Chairman of The Fed has his assets being managed by a company that the Fed does business with. It's completely reasonable to assume a conflict of interest in this less-than-transparent environment. The upper tiers of power don't deserve the benefit of the doubt.

Shrezzing 3y ago
I agree that it's a conflict of interest, but I'm not sure how the chair of the fed could keep their money without a conflict of interest somewhere, given that their role necessarily has interests in all US financial institutions. For the chair to not have a conflict of interest, they'd need to forfeit all their money, or keep it in cash under their mattress.
- celtoid 3y ago
  I'm of the opinion that anyone in government or regulatory agencies should be forbidden from conducting any business at all while in office. Put it all into a blind trust. It should be a crime to be a regulator while doing business with the entities one is regulating. As I said, just my opinion.
  - Shrezzing 3y ago
    >I'm of the opinion that anyone in government or regulatory agencies should be forbidden from conducting any business at all while in office. Put it all into a blind trust. Following the Dallas/Boston Fed scandals a couple of years ago, the Fed does enforce this separation of interests, and Powell's money is now held in a blind trust. The trust is managed by Blackrock.
- gottorf 3y ago
  > keep it in cash under their mattress Even that would be a conflict! They are Federal Reserve Notes under that mattress, after all.
beambot 3y ago
There's not a single thing the Fed chairman could invest in that wouldn't be a conflict of interest -- whether the world's largest asset manager (blackrock), broadbased ETFs, or even USD since his monetary policy effects the dollar's purchasing power.
- gottorf 3y ago
  > since his monetary policy effects the dollar's purchasing power Kind of wild that one man* has the ability to change the dollar's purchasing power, which affects literally billions of people, isn't it? *: Actually twelve members of the Federal Open Market Committee.

Shrezzing 3y ago

I agree that it's a conflict of interest, but I'm not sure how the chair of the fed could keep their money without a conflict of interest somewhere, given that their role necessarily has interests in all US financial institutions. For the chair to not have a conflict of interest, they'd need to forfeit all their money, or keep it in cash under their mattress.

celtoid 3y ago
I'm of the opinion that anyone in government or regulatory agencies should be forbidden from conducting any business at all while in office. Put it all into a blind trust. It should be a crime to be a regulator while doing business with the entities one is regulating. As I said, just my opinion.
- Shrezzing 3y ago
  >I'm of the opinion that anyone in government or regulatory agencies should be forbidden from conducting any business at all while in office. Put it all into a blind trust. Following the Dallas/Boston Fed scandals a couple of years ago, the Fed does enforce this separation of interests, and Powell's money is now held in a blind trust. The trust is managed by Blackrock.
gottorf 3y ago
> keep it in cash under their mattress Even that would be a conflict! They are Federal Reserve Notes under that mattress, after all.

beambot 3y ago

There's not a single thing the Fed chairman could invest in that wouldn't be a conflict of interest -- whether the world's largest asset manager (blackrock), broadbased ETFs, or even USD since his monetary policy effects the dollar's purchasing power.

gottorf 3y ago
> since his monetary policy effects the dollar's purchasing power Kind of wild that one man* has the ability to change the dollar's purchasing power, which affects literally billions of people, isn't it? *: Actually twelve members of the Federal Open Market Committee.