Thursday, November 17, 2011

Fed to Go PEU?

President Obama is reportedly considering Jerome (Jay) Powell for appointment to the Federal Reserve Board.  Powell, as a private equity underwriter, spent eight years with The Carlyle Group before starting his own investment company.  Is Jay's firm a virtual nonprofit, like Carlyle?

It won't be Powell's first time at the board table, having served on the Board of Directors of Dr Pepper/Seven Up Bottling Group, Panolam Industries International and Rexnord Corporation.  He's well aware of the global game of finance, perfectly suited for the Fed.