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Governors Bowman and Waller Abstained From Supporting Goolsbee

FED
  • A FoI request from Bloomberg has revealed that Governors Bowman and Waller, both Trump appointees on the Board, abstained from backing former Obama aide Austan Goolsbee in the vote to lead the Chicago Fed when he took up the post last month after Charles Evans retired.
  • They note “the abstentions are unusual, particularly because Waller heads the reserve bank oversight subcommittee at the board, which means he would have been in communication with the Chicago Fed’s directors before they made their final pick.”
  • The finding is all the more interesting after the WSJ earlier this week tipped Goolsbee to be in line to replace Brainard as Vice Chair.

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