Bernanke Abandoned! Three’s a Trend After International Economic Adviser Sheets Ends 18-Year Run With Fed

sheetsnathanx 1 Bernanke Abandoned! Threes a Trend After International Economic Adviser Sheets Ends 18 Year Run With Fed

"L8R."

Three hours before President Obama’s “eff an S & P” presser, a tidbit of news broke about a staffing change at the Federal Reserve: Nathan Sheets, the Fed’s chief international economic adviser—or: the director of the Division of International Finance—is getting out of dodge. Mr. Sheets, who started with the Federal Reserve Board in 1993 as an economist, had been there for 18 years. More importantly, he’s the third in a trend of (take a guess)…

…top advisers of Fed chair Ben Bernanke’s to step down in the last 13 months.

Notes Bloomberg:

The departure means all three of Bernanke’s top staff advisers have left their positions or announced their departures in the last 13 months. Brian Madigan, former director of the Division of Monetary Affairs, retired last year, while the Fed said in May that David Stockton, director of the Division of Research and Statistics, is retiring Sept. 30.

Mr. Sheets is stepping down after four years in his capacity as Chief International Economic Adviser, and as Bloomberg noted, a single day before the Federal Open Market Committee (the cleverly-named component of the Fed that oversees how our country’s famously awesome open market works) convenes to meet. Also as Bloomberg noted, a reason for Mr. Sheets’ depature was not given. We rang up his office and were told he was in a meeting, and left a message. We’ll update if we receive quote.

fkamer@observer.com | @weareyourfek

Comments

  1. Bernice policastro says:

    They should all leave their jobs and the Federal Reserve…shut it down..the hell with global order.
    THE USA needs to start their own bank with no interest from taxes paid..time to bankrupt America and separate themselves from the off shore corporation which is the Fed’s (not belonging to the USA) and start with the old adage “charity begins at home”  worry what happens here, not in china, japan, Russia, Saudi or other countries etc.  Clean house 1st, create jobs here, stop tax breaks to off shore companies and most of all use the technology which brings us clean energy (don’t even try to tell me this doesn’t exist)  Forget the oil/gas unless we get it there and there is no profiteering on it (it’s a necessity stupid)
    The USA could be so clean and green and oh so productive if it weren’t for a 2 party systems who all have the same interest..themselves and how much big corps will put in their pockets.  You know the old thing, Money is power, it get’s you noticed and all the sex you need.  Sorry to say this, “GOOD OLD BOYS CLUB”.   Sorry folks women need to run this country, no nukes, no war, no BS!!!