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<p>[QUOTE=&quot;GoldFinger1969, post: 8201382, member: 73489&quot;]I don&#039;t want to get too political so I won&#039;t get too specific or name names.&nbsp; But 2 of these nominees are really unqualified IMO to sit on the Fed.&nbsp; I could see a problem down the line with a 1987 &quot;Gang Of Four&quot; sequel and Powell overruled on some key aspect of monetary policy. </p><p><br /></p><p>The overall composition of the FOMC is safe but having 4 of the 7 governors novices/unqualified appointees is scary.&nbsp; As a reminder, all 7 Governors sit on the FOMC (which sets monetary policy)...the head of the NY Fed has a permanent seat, too....and then the other 4 members rotate from the 11 Federal Reserve Banks.&nbsp; I had a chance to have lunch with the NY Fed Chairman a few years ago. </p><p><br /></p><p><b><u>I&#039;ve never seen such lack of skill in monetary policy in nominees.&nbsp; They may know economics, but not the right disciplines.&nbsp; It&#039;s like asking an orthopedic surgeon to do a coronary bypass.</u></b></p><p><br /></p><p>Keep an eye on this.[/QUOTE]</p><p><br /></p>

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