U.S. Federal Reserve (Wikipedia)
* Sarah Bloom Raskin, the wife of Democrat congressman Jamie Raskin, has been nominated to be in charge of policing the nation's largest banks for the Fed
* The Duke University professor has previously served as a Fed governor and deputy Treasury secretary, and is known for her focus on climate change
* In September, Raskin said regulators must 'incentivize a rapid, orderly, and just transition away from high-emission and biodiversity-destroying investments'
* Lisa Cook, if appointed, would be the first black woman to serve on the Fed's board
* Cook said she was inspired to become an economist while climbing the highest mountain in Africa, Mount Kilimanjaro, and went on to work in Rwanda
* She worked with U2 frontman Bono to lobby the White House to cancel developing world debt
* Her work at Michigan State has included investigating how segregation, lynchings, and race riots from 1870–1940 reduced the total number of patents
* The third nominee is Philip Jefferson, currently a professor at Swarthmore in Pennsylvania specializing in poverty reduction
* Washington DC-born, he said he wanted as a child to be a banker because he saw on television they were 'well dressed'
Joe Biden has nominated three people to the board of the Federal Reserve in what would usher in the most diverse group in the Fed's history - and the most woke.
The president is intent on nominating a white woman, Sarah Bloom Raskin; a black woman, Lisa Cook; and a black man, Philip Jefferson.
If they are confirmed to their posts, the seven-person Fed board would have four women, one black man and two white men - the most diverse team in the Fed's 108 years of existence.
Read more ....
Update: Biden seeks to reshape Fed with historically diverse slate of nominees (Reuters)
Update #2: Biden Nominates Sarah Bloom Raskin, Philip Jefferson and Lisa Cook To Fed Board (Zero Hedge)
WNU Editor: Is gender, race, and having a progressive background the necessary qualifications to now be on the board of the Federal Reserve?
Apparently yes.
So what does that mean for the future of America's money and its place as the world's reserve currency?
You tell me.
9 comments:
I'd rather just have the best.
Anti-biodiversity?
Crazy, crazy and crazy again. How low America will go?
The Atlanta FED had a good run of forecasting. It is where I wanted to work, so as to learn.
What now?
You know these nominees, if approved, will shit all over everything like harpies or seagulls. You can't trust institutions. You trust individuals. I gave up trusting newspapers. Abotu10 or 15 years go I read some articles by liberal journalists. They were WSJ alums. After that point I look at the byline not at the name of the newspaper. That and institution and people change. Bret Stephens use to be really smart. I read all his columns in the WSJ. He ran out of gas or the money is too good as a house plant at the NYT. He is a whore now.
When someone give a prediction what you need to measure the validity of their reasoning or method behind their prediction is MAPE, MAD or MSE.
The FED is gone. Stick a fork in it and bone up on economics, because they are not going to help you.
This insanity cannot end soon enough.
TRUMP,
2024,
R,
you lost. get over it
Nation went woke when women allowed to vote and slaves freed and child labor outlawed and social security put into place and medicare passed
WNU Editor: Is gender, race, and having a progressive background the necessary qualifications to now be on the board of the Federal Reserve?
Apparently yes.
What qualifications did Trump use for his appointments?
WASHINGTON ― It’s hard to keep up with all of President Donald Trump’s questionable nominees for lifetime federal judgeships.
There was Brett Talley, a 36-year-old lawyer and former paranormal activity investigator who tweeted about Hillary Clinton being “rotten” and said his solution to the Sandy Hook shooting massacre “would be to stop being a society of pansies and man up.” Matthew Petersen, also a 36-year-old lawyer, couldn’t answer basic questions about law in his confirmation hearing and was basically shamed into withdrawing. Jeff Mateer, a 52-year-old lawyer who described transgender children as evidence of “Satan’s plan” and endorsed gay conversion therapy, was eventually withdrawn too.
None of those nominees made it through the Senate confirmation process. But a growing number of Trump’s court picks are slipping through despite earning a rare and embarrassing “not qualified” rating by the nonpartisan American Bar Association. And Republicans are ready to confirm even more of them.
This week alone, two of Trump’s court picks who earned the abysmal ABA rating ― Sarah Pitlyk and Lawrence VanDyke ― inched forward. Pitlyk, a 42-year-old lawyer who previously clerked for then-D.C. Circuit Judge Brett Kavanaugh, advanced out of the Senate Judiciary Committee on Thursday on a party-line vote. VanDyke, a 46-year-old lawyer who is the former solicitor general of both Nevada and Montana, got his confirmation hearing on Wednesday.
“Mr. VanDyke’s accomplishments are offset by the assessments of interviewees that Mr. VanDyke is arrogant, lazy, an ideologue, and lacking in knowledge of the day-to-day practice including procedural rules,” reads the brutal ABA review of VanDyke. “There was a theme that the nominee lacks humility, has an ‘entitlement’ temperament, does not have an open mind, and does not always have a commitment to being candid and truthful.”
The ABA, which has reviewed each of a president’s judicial nominees for decades, interviewed 60 people in its assessment of VanDyke ― including 43 lawyers and 16 judges. It found that VanDyke’s colleagues “would not say affirmatively that he would be fair to any litigant before him, notably members of the LGBTQ community.”
This detail made VanDyke, Trump’s pick for a lifetime seat on the U.S. Court of Appeals for the 9th Circuit, cry during his hearing.
Fred droppings at 12:30 and 1:13
Don't worry WNU Ed, your silver bullion treasure trove is safe in the backwoods! Just don't tell anyone where Quebec is. Lots of trees, lakes and huts and bears to guard it. Oh, are there bears in Quebec? There are plenty of slimey frogs though!
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