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While on vacation in Hawaii (again?), Obama tapped Jerome Powell to serve on the Federal Reserve Board of Governors.
Powel served as the undersecretary for finance under President George H. W. Bush and was a partner of The Carlyle Group. The Carlyle Group is a massive private equity firm and one of the largest defense contractors in the world.
They’re made up of some of the most influential policymakers over the last five administrations including both Bush presidents, former Secretary of State James Baker III, former Secretary of Defense Frank Carlucci, former Clinton Chief of Staff Mack McLarty, and former SEC Chairman Arthur Levitt to name a few.
Frank Carlucci, former Sec. of Defense, was also on the Board of Directors for Westinghouse and CBS, where he controlled a massive source of media, nuclear power plants, electric companies, and can sway public opinion. Now he’s a top dog at the Federal Reserve. Wonderful.