Bush Quietly Reshaping the Fed

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00006349-bush-quietly-reshaping-the-fed/

By Chris Isidore, CNNMoney.com

Few presidents have had the opportunity to shape the Federal Reserve the way President Bush has this year.

Once Bush replaces Vice Chairman Roger Ferguson, the only Democrat on the Fed’s board who resigned recently, four of the Fed’s seven governors will have taken office in 2006, and all seven will be Bush appointees. That would make Bush only the third president to place all seven governors on the board, after Ronald Reagan in 1988 and Franklin Roosevelt in 1936.

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