I previously noted Cato Senior Fellow and former president of the St. Louis Federal Reserve Bank William Poole worrying about Congress “damag[ing] the independence of the Fed.” And now, in a Washington Post piece, Poole is quoted as saying: “New York Fed employees ‘play a very valuable role, day in, day out, with detailed contacts with the big financial firms.’” I’m sure they do.
[LRC Cross-post]
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