And just like that, two Federal Reserve presidents suddenly find it more suitable to “retire” than to do, you know, what is usually the case when some government official finds themself embroiled in a controversy. i.e., “Put this behind me, and get back to doing the work for the American people.” Albeit, technically, the Fed is an agency of appointees rather than elected officials, but that’s just semantics regarding this latest imbroglio.
No, these two suddenly find it’s better to just “Exit, stage right.”
I wonder why? Hmmmmm, let me think… To wit:
And for those that think “Fed Credibility” is as secure as ever? Maybe, it’s time to think that through, again. To wit:
And everyone still believes: “The Fed’s got their back!”
Sure they do.
© 2021 Mark St.Cyr
Addendum: And in less time than this post was live, we find out that there was another Federal Reserve president who just so happens to also be the Vice-Chair
was caught was revealed to be trading his personal multi-million $dollar accounts only days before monetary policy implementations turbo-charged another lift off in the “markets.” Funny how that happens, hmmm? All pure coincidence, I’m sure.