Fed Governor Donates to Clinton as Bank Guards Independence

[WestVirginiaRebel]

Bloomberg:

At a time when Federal Reserve officials are making the case that monetary policy needs to be non-partisan and independent, a sitting governor has given money to Hillary Clinton.

 

Fed Governor Lael Brainard gave $750 in three contributions to Clinton’s campaign between November and January, according to Federal Election Commission records.

 

Brainard, an Obama administration appointee to a top Treasury post before she joined the Fed, acted within federal rules and has strong family ties to Clinton. Her husband, Kurt Campbell, was formerly a top adviser to the former secretary of state, serving as assistant secretary for east Asian and Pacific affairs.

 

While Fed officials sometimes identify with either major political party, donations to a presidential candidate by a senior policy maker are unusual, particularly at a time when the central bank is trying to guard its independence from politics. The Fed’s authority has been criticized during the campaign, and both Democratic and Republican lawmakers have questioned decisions about regulation and monetary policy.

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Donations for me, not for thee...