Wall Street Is Again Running the World's Central Banks

[marmar]

(Bloomberg) Wall Street is again leading to the corridors of central banks.

From Philadelphia to Paris, investors and financiers are increasingly being hired to help set monetary policy less than a decade since the banking crisis roiled the world economy and chilled their public-sector employment prospects.

Academic studies of historical voting records at central banks suggest the new trend may mean an increased bias towards tighter monetary policy.

Last week’s appointment of Neel Kashkari to run the Federal Reserve Bank of Minneapolis as of January means a third of the Fed’s 12 district banks will soon be run by officials with past ties to Goldman Sachs Group Inc.

Kashkari also worked for Pacific Investment Management Co. and managed the U.S. Treasury’s $700 billion rescue of banks during the financial crisis. .................(more)

http://www.bloomberg.com/news/articles/2015-11-17/what-wall-street-s-return-to-central-banking-may-mean-for-policy

[hobbit709]

1. Again or still?