Toro
Diamond Member
Are you saying there's not a single banker on the FOMC?
Most aren't. There are a few with banking experience but most of the current board are academics with little or no business experience.
5 of 11 have significant private-sector banking experience. Most of the remaining 6 have significant federal reserve banking experience. I think a 50-50ish mix of academics / fed staff and private sector interests is a pretty fair mix - and that will probably tilt significantly towards the private sector when St Louis and KC come on to the committee in a couple years.
I guess I should look at the Fed site. I read my info from a hedge fund a few weeks ago that addressed this issue.
Kyle Bass - Hayman Investor Letter - February 2011 - Fed Governors Attachment