Someone with the Democrats is going thru these guys financial disclosures and dropping these stories into the press… these 3 have been outspoken critics of the current Fed policy of “providing accommodation” via asset purchases and zero interest rate… they all want to “taper!” sooner rather than later…
So these guys are going to get thrown out and the Fed is going to get re-staffed with new Democrat oriented people…. It was Trump who first politicized the Fed now Dems are just following suit it’s fair play…
This development is not bullish the interest rate and maybe not even bullish the “taper!”… the Biden people will appoint others who will “provide accommodation” to support the Biden admin…
Another top Fed official busted on trading: VC Clarida traded between $1m-$5m out of a bond fund into stock funds one day before Powell issued a statement flagging possible policy action as the pandemic worsened, his 2020 financial disclosures showhttps://t.co/ufuNWKRCaz
— Saleha Mohsin (@SalehaMohsin) October 2, 2021
But Mike if you go back over all the past years it’s probably the same shit.., so why now?
ReplyDeleteThey probably want to get rid of all these current “hawks” ……
I am shocked... shocked, I say!
ReplyDeleteSpeaking of ethics, the Federal Reserve (and any other Central Bank) has no proper business creating fiat for private interests anyway and that includes IOR and loans to and asset purchases* from the private sector.
ReplyDeleteBut if the economy in aggregate is deemed to need liquidity, the proper way is an equal Citizen's Dividend and/or deficit spending for the general welfare.
*Asset sales are another matter since Central Banks own private sector type assets (eg. gold, eg corporate bonds, eg foreign currency) that should never have been bought in the first place and which should be sold in an ethical manner.