New York Fed President under fire
New York Fed President John Williams has been in the job almost a year but behind the scenes there has been constant turmoil, according to a Bloomberg report.
It highlights how Williams fired two popular top deputies and that morale has sank.
On Wall Street, questions arose again a couple of weeks ago when a speech he gave inadvertently whipsawed markets. The story involves Simon Potter, who ran the all-important markets desk, and Richard Dzina, head of the financial services group. Both were abruptly relieved of their roles in late May by Williams. Little explanation was given, but according to current and former New York Fed employees, as well as those close to the bank, the nature of the exits, by fault or design, seemed to be a warning: fall in line.