Chicago Fed hires Austan Goolsbee as new president

The Fed loves to talk about how it's a non-political institution but it's awfully funny how most of the hires have a political background.

That said, he's extremely well qualified. Via wikipedia:

He is the Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business. Goolsbee formerly served as the Chairman of the Council of Economic Advisers from 2010-2011 and as a member of President Barack Obama's cabinet. He served as a member of the Chicago Board of Education from 2018-2019.

Goolsbee was a member of the Council of Economic Advisers before becoming chair. He was also the Chief economist and chief-of-staff to Paul Volcker at the President's Economic Recovery Advisory Board.

The Fed also talks about how it wants some diversity of thought but his education is from Yale and MIT, where he got a PhD in economics. The lesson from the latest episode of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term was that the Fed needs to get out of the 'PhD economist' echo-chamber but here we are again.

Anyway, congratulations to him and here's hoping that he's as good of a Fed president as Evans, who was top notch. He has listed his interests as triathlons and improv comedy; the latter of which he will get plenty of opportunity to use in his new job.