Goolsbee's Wife Works at Firm That Helped Pick Him for Fed Job

The transcript discusses the controversy surrounding Austin Goolsby's appointment as the Chicago Fed president, highlighting the lack of transparency in the selection process. It raises concerns about potential conflicts of interest due to his wife's involvement in the executive search firm. The discussion also touches on the political implications of Goolsby's past affiliations and compares his appointment to previous Fed leaders. The transcript concludes with considerations for future changes in the selection process for regional Fed presidents.

What was the main issue with the selection process of Austin Goolsby as the Chicago Fed's new president?

• He was not qualified for the position.

• He was the only candidate considered.

• His wife's involvement in the executive search firm was not disclosed.

• The selection process was too lengthy.

Why did some people believe Austin Goolsby's affiliation with the Obama administration was problematic?

• It made him overqualified for the role.

• It was irrelevant to his new position.

• It was seen as a conflict of interest.

• It was believed to disqualify him due to perceived partisanship.

What was unusual about the voting process for Goolsby's appointment?

• All members voted unanimously.

• The vote was delayed multiple times.

• Two Fed members abstained from voting.

• The vote was conducted in secret.

How does Goolsby's media presence differ from past Fed appointees like Bernanke?

• He was known for his neutrality.

• He avoided discussing political issues.

• He frequently appeared on TV in a partisan manner.

• He was less visible on television.

What potential change is suggested for the selection process of regional Fed presidents?

• An internal review by the Fed.

• A public voting system.

• A confirmation process similar to other government positions.

• A longer selection process.