Op-Ed: No place like home? Don’t tell that to Fed board nominees (via latimesopinion)
to fill vacancies on the Federal Reserve Board, they were listed as “Judy Shelton, of Virginia,” and “Christopher Waller, of Missouri.” But when the nominations were forwarded to the Senate a dozen days later, they were listed as “Judy Shelton, of California,” and “Christopher Waller, of Minnesota.” What gives?
However, the board’s California and Minnesota slots are empty. Hence — presto! — the candidates suddenly hail from new home states.First of all, the new designations aren’t altogether bogus. Besides having a residence in California, Shelton was born there; and being born somewhere has long counted, in Fed board appointments, as being “from” that place.
But Diamond’s case was a noteworthy exception. For more than two decades, the rule has essentially been … no rule at all. Ten board members, including two Fed chairs and a vice chair, have been appointed without even the pretense of meeting the Federal Reserve Act’s geographic diversity requirement, while several others have had only slim ties to the districts they were appointed to represent.One recent case is Randy Quarles, the Fed’s vice chair for supervision.
When the geographic diversity requirement has served any purpose lately, it’s been as a blunt weapon of partisan politics, to be hurled at otherwise well-qualified Fed nominees when nothing else avails. And, apparently, it’s only useful when the party that controls the Senate doesn’t also control the White House.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Randall Park, Ed Helms to Host Hybrid Alternative-Scripted Series ‘True Story’ for NBCEd Helms and Randall Park are attached to co-host a hybrid scripted-alternative series titled “True Story” at NBC. The hour-long show has received a six-episode order. It is based on th…
Consulte Mais informação »
Easy Dinner Party RecipesThese dinner party recipes are far easier than they look—we won't tell if you don’t:
Consulte Mais informação »
Trump was not told coronavirus-infected Americans would be flown home from cruise shipThe president grew furious with senior advisers this week after being assured that infected patients would remain in quarantine overseas.
Consulte Mais informação »
The Best Yoga Pants for Women, According to Hyperenthusiastic Amazon Reviewers“I’m such a picky person, but these leggings, these are the only leggings I’ll buy from now on'
Consulte Mais informação »