Antony Currie suggests that a cabal of ex-Goldman Sachs bankers may be exerting undue influence over the United States’ de facto central bank, the Federal Reserve. Here’s his op-ed at Reuters:
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The Federal Reserve has just given Goldman Sachs conspiracy kooks a field day. Neel Kashkari, whose claim to fame is running the U.S. bank and autos bailout fund during the financial crisis, will be in charge of the central bank’s Minneapolis office starting next year. That leaves the investment bank’s alumni in charge of three of the 12 regional branches.
Robert Kaplan, who led Goldman’s investment banking business before leaving in 2006, took over the Dallas Fed in September. His former colleague William Dudley, once Goldman’s chief economist, has been in charge of the New York Fed for almost seven years. That’s the most powerful of the dozen regional offices as it gives him a permanent seat on the Federal Open Market Committee that decides interest rates.