3 ms·
Just loosely speaking. I’m not really talking about a family here. I’ll switch to “elites” then.
by markus_zhang 1y ago
Just loosely speaking. I’m not really talking about a family here. I’ll switch to “elites” then.
- JumpCrisscross 1y ago> not really talking about a family here. I’ll switch to “elites” then An interesting aspect of American central banking is that it doesn’t tend to cross-pollinate with commercial or investment banking. Bernanke went to MIT before a career in academia and government [1]. Yelled worked in government her whole career [2]. Powell, uniquely, worked in the private sector as an attorney and investment banker, but hasn’t been in that world for 15 years [3]. Until 2025, the Fed was legitimately independent of commercial banks’ concerns. Until Trump, Wall Street couldn’t pick its regulators the way it can now. [1] https://en.m.wikipedia.org/wiki/Ben_Bernanke https://en.m.wikipedia.org/wiki/Ben_Bernanke [2] https://en.m.wikipedia.org/wiki/Janet_Yellen https://en.m.wikipedia.org/wiki/Janet_Yellen [3] https://en.m.wikipedia.org/wiki/Jerome_Powell https://en.m.wikipedia.org/wiki/Jerome_Powell