Fed Governor Lael Brainard Suggests Fed is Not That Independent.

After Trump’s attack on the Fed’s neutrality during the first Presidential Debate, we see news today of data that supports his view. The front page of the US print edition of the Financial Times carries a story (see Yellen under pressure over donations to Clinton campaign by Fed governor) that suggests a fed governor has donated (the maximum allowed) to the Clinton campaign and at the same time, been in discussions with Democrats about a possible top job such as Treasury Secretary.

This is wholly unacceptable. The Fed should be independent and should look and behave independently. This reported behavior suggests anything but that. I would guess that governor Brainard will be forced to step down once enough Republican and honest democrats hear of the story. Shocking stuff.

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