Posted on Feb 13, 2020
Fed chair Jerome Powell asked about party at Jeff Bezos' house
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Posted 5 y ago
Responses: 2
That is not how the Federal Reserve Board works and it's sad she in in Congress and has no clue. First there are 12 Members of the system one per district and each heads a specific Fed District. Each of those district heads including the Chairperson is expected to attend various social events in their District as well as putting on some of their own. Likewise Fed Reserve Board Members are expected to network as well among the community. The purpose is to seek out what prominent business leaders in their respective districts as well as the United States are thinking. That is the main method on how they get the pulse of the economy. Jeff Bezos at most would be one voice among thousands and his voice would not carry anymore weight than other voices. Further the Fed Chairperson does not make decisions unilaterally he makes them based on input of the 12 District Heads (whom he visits and consults with) as well as board members. Now perhaps she takes exception for the Chairperson attending this one specific social event, which is kind of stupid but fine, he can avoid it in the future if that one event is an issue. He as a matter of expectation still has to attend social events and cannot recuse himself from all of them. Having said all that one of the Feds main social event / mixers at Jackson Hole, Wy is lavish as well and business leaders are invited to that as well just like they are to Davos. So the whole point of this question and answer session in that context is a little silly. Last but not least, the Fed is a mixture of private and public individuals. Even if the Fed Chairperson recuses himself from that specific part, one of his minions which is not appointed by any politician can still attend and well........the whole point is moot then as it is a private individual attending a business gathering or party.
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Guilty but association? So we must avoid party's we would normally go to because of who's the White House? I think
Social Media has gotten everyone into a Tabloid lifestyle and we believe everything that is put in front of us good or bad without doing any research on it, i have been accused of that a few times myself with just cause.
Social Media has gotten everyone into a Tabloid lifestyle and we believe everything that is put in front of us good or bad without doing any research on it, i have been accused of that a few times myself with just cause.
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1SG (Join to see)
Correct. Just like any other profession where perception is reality. Like fraternization in the military and such. When he is no longer the chair then that is different.
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SPC Erich Guenther
1SG (Join to see) - It is his job as Chairperson to attend meetings and parties like that so he can network specifically with business leaders, acedemic leaders and community leaders. If you think Mr Bezo's throws a lavish party I suggest strongly that you visit your local Federal Reserve District HQ, when they throw a social event for business and academic leaders of the community. Usually done at the 4-5 star level of quality with catered food and servers in uniforms because they want people to attend and this is how they manage your Economy by gathering information this way so they can form more accurate conclusions looking at the stats vs just being locked up in a closet somewhere with a computer and making conclusions with no other input. Universities do similar with alumni gatherings and fundraising for expansion and dept chairs.
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