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Tuesday, July 26, 2005

Clarida Not on Short-List for Board of Governors

The White House has drawn up a short-list for open seats on the Board of Governors. Can anyone fill us in on these people on the list (Buchholz, Krozner, Warsh, and Dooley)?  We would be most grateful.  The one person I do know about, and support, is Richard Clarida.  I am disappointed that Clarida did not make the short-list.  I am waiting to learn more to make final judgments, but dropping Clarida, assuming it was the administration's choice and not a voluntary withdrawal, is not an encouraging sign:

List of Fed board potentials grows, Reuters: Economist and author Todd Buchholz, an adviser to President George W. Bush during the 2004 presidential campaign, is being considered by the White House for a seat on the Federal Reserve Board, sources close to the administration said.  Buchholz, who also served as a White House adviser under Bush's father, is under consideration for one of the two Fed seats the president will need to fill.  University of Chicago economist Randall Kroszner, a member of Bush's Council of Economic Advisers from November 2001 to July 2003, is another candidate. … The White House has drawn up a short list for the seat vacated in June when Ben Bernanke left the Fed to become chairman of the CEA, sources have said. A second spot will open in August when Fed Gov. Edward Gramlich is to step down.  Kroszner and Buchholz are among those who have been interviewed for the Washington-based board.  Former Treasury Department official Richard Clarida has been mentioned as a possible contender, too, but two sources said he was not on the short list.  BusinessWeek Online, which reported on Thursday that Buchholz was in the running, also said Kevin Warsh of Bush's National Economic Council was being considered.  The Financial Times said yet another possible candidate was Michael Dooley, a professor at the University of California at Santa Cruz. … Buchholz has experience in Washington politics and finance. He was a co-founder of Enso Capital Management, a managing director of Tiger Management Fund and former president of the G7 Group, an advisory firm that tracks policies that impact financial markets. … Kroszner's expertise blends international finance and financial regulatory issues. … Dooley, editor of the International Journal of Finance and Economics, has expertise in international economics. … Dooley has argued the record U.S. current account deficit can likely be sustained for much longer than most economists had long thought.  Warsh is an expert on financial regulatory matters, including oversight of mortgage market giants Fannie Mae and Freddie Mac…

    Posted by on Tuesday, July 26, 2005 at 04:41 PM in Economics, Monetary Policy, Politics | Permalink  TrackBack (0)  Comments (5)

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