WEDNESDAY JUNE 25
Doesn’t Anybody Want To Work For The Fed Anymore?

Maybe, but if they do, they’re going to have to wait. For the first time since the Fed Board of Governors settled on its current 7-member structure in 1935, the panel will have three vacancies. All because Congress and the Bush administration can’t get it together. As always, great timing, guys. But more important than making more fun of the U.S. government (and that’s gotta’ mean it’s really, really important) is how the Fed’s behavior might actually change as a result of this setback. Yeah, it’s that bad. So, here’s what bullets we may soon have to duck.

June 2008

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