But, according to today's article in The Washington Monthly and the ThinkProgress blog,...
"Five current governors of the Fed, only two, Mr. Bernanke and the vice chairman, Donald L. Kohn, are academic economists who specialize in monetary economics. The other three include a former community banker, a former Wall Street executive and a legal scholar."Also, one of the current Federal Reserve Board members who was appointed by President Bush, "has no advanced degree in economics and has never done any academic research in the field. Shelby never raised questions about his qualifications and didn't hesitate to support that nomination."
Oh yeah. Totally unqualified to be on the Board of the Federal Reserve. This explains a lot about why our economy and monetary policy are a mess. Thank Senator Shelby! You're a credit to conservatives the world over. (NOT!)
Links relating to this post: http://econ-www.mit.edu/faculty/pdiamond/index.htm