Janet Yellen to Treasury? So Much for 'Fed Independence'
News that Vice President Biden intends to nominate the former chairman of the Federal Reserve, Janet Yellen, to be treasury secretary certainly has its ironies. We’re still in the midst of watching the Democrats maneuver to defeat the nomination to the Fed board of Judy Shelton on the grounds that she would compromise the independence of the Fed from the Treasury. Mr. Biden’s move is practically a merger.
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