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October 12, 2021
The deeper problem with this argument gets at one of the most fascinating, least discussed dynamics of the Fed: the fact that it is an extraordinarily top-heavy institution, perhaps more than any part of the federal executive branch.
October 07, 2021
“The malfeasance already in the public record is staggering. For the sake of government integrity, the public must learn how deep the rot goes at Powell’s Federal Reserve.”
October 07, 2021
The Revolving Door Project makes a point of watching independent agencies, those oft-overlooked entities, closely. As a result, we’ve had reason to give a great deal of thought to the purpose and meaning of “independence” in the agency context. As “independence” is invoked as a shield in other settings, that thinking may prove instructive.
October 05, 2021
“Drastic action is necessary, because the prevailing assumption that what is going on at the Fed is a string of harmless, sloppy errors strikes us as wildly unsupported by the facts.”
October 04, 2021
Powell neglected to mention that he’d personally purchased shares that year in several actively-managed municipal bond funds, as a Revolving Door Project review of the Fed Chair and Vice Chairs’ 2020 financial disclosure forms shows.
September 30, 2021
The fact that the Fed’s current leadership team made or benefitted from multimillion dollar transactions contextualizes what we’ve seen at the Boston and Dallas regional banks: Chair Powell has facilitated a broad culture of lax ethical practices at the highest levels of the nation’s central bank.
September 17, 2021
For those less familiar with the Carlyle Group, the private equity firm where Powell was a partner and senior lawyer from 1997 – 2005, here’s a quick overview of their history with capitalizing on political connections and the revolving door.
September 16, 2021
It really shouldn’t surprise anyone that a former Carlyle Group executive — a firm whose whole profit strategy is based on exploiting insider connections in the federal government — hasn’t prioritized ethics and oversight in running the nation’s largest stockpile of potentially market-moving information.
August 30, 2021
The organizations call for the next Chair, Vice Chair, and Vice Chair for Supervision to prioritize protecting against recessions, combating systemic racism, fighting climate change, and ensuring full employment.
August 19, 2021
Disproportionately Black cities were the ones most in need of a non-profit-seeking investment alternative during the COVID-19 crisis. The Fed’s program to fill that need failed to deliver.
August 19, 2021
The following points are taken from Revolving Door Project’s extensive research document on Jerome Powell’s private-sector record, which includes work at union-busting and fossil fuel-investing firms.
August 09, 2021
During his time at the Carlyle Group, the firm repeatedly engaged in union-busting layoffs, climate-damaging fossil fuel investment projects, and more.
August 06, 2021
For the sake of American workers, racial justice, financial security, and the climate, Federal Reserve Chairman Jerome Powell should not be renominated for a second term.