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Pam and Russ Martens: For whom is New York Fed seeking 'investment opportunities'?
Is the New York Fed Working for the American People or the Wall Street Banks that Own It?
By Pam and Russ Martens
Wall Street on Parade
Tuesday, February 1, 2022
Adding to a very long laundry list of questions about exactly whom the New York Fed serves is the help-wanted ad that was posted four days ago.
The ad is for a "financial planning and analysis expert" to work at the New York Fed's headquarters in lower Manhattan. One part of the job description is this: "modelling of potential investment opportunities."
... Dispatch continues below ...
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The New York Fed is supposed to be implementing monetary policy on behalf of the United States as mandated by the Federal Open Market Committee. As far as public FOMC records indicate, the New York Fed has not been assigned the job of seeking out "potential investment opportunities."
So for whom is it seeking out these investment opportunities?
Is it looking for profit-making investments for the Wall Street megabanks that own it and whose CEOs rotate on and off its Board of Directors?
Had the New York Fed not become so cozy with these megabank executives, one would not have to be asking that question. ...
... For the remainder of the analysis:
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