So much for the “independent” Fed…



Secretaries of the Treasury

No.

Name

Term of Office

President(s) served under

55

George M. Humphrey

21-Jan-53

29-Jul-57

Dwight D. Eisenhower

56

Robert B. Anderson

29-Jul-57

20-Jan-61

57

C. Douglas Dillon

21-Jan-61

1-Apr-65

John F. Kennedy, Lyndon Johnson

58

Henry H. Fowler

1-Apr-65

20-Dec-68

Lyndon Johnson

59

Joseph W. Barr

21-Dec-68

20-Jan-69

60

David M. Kennedy

22-Jan-69

10-Feb-71

Richard Nixon

61

John Connally

11-Feb-71

12-Jun-72

62

George P. Shultz

12-Jun-72

8-May-74

63

William E. Simon

8-May-74

20-Jan-77

Richard Nixon, Gerald Ford

64

W. Michael Blumenthal

23-Jan-77

4-Aug-79

Jimmy Carter

65

G. William Miller

7-Aug-79

20-Jan-81

66

Donald Regan

22-Jan-81

1-Feb-85

Ronald Reagan

67

James Baker

4-Feb-85

17-Aug-88

68

Nicholas F. Brady

15-Sep-88

17-Jan-93

Ronald Reagan, George H. W. Bush

69

Lloyd Bentsen

20-Jan-93

22-Dec-94

Bill Clinton

70

Robert Rubin

11-Jan-95

2-Jul-99

71

Lawrence Summers

2-Jul-99

20-Jan-01

72

Paul O'Neill

20-Jan-01

31-Dec-02

George W. Bush

73

John W. Snow

3-Feb-03

30-Jun-06

74

Henry Paulson

10-Jul-06

20-Jan-09

75

Timothy Geithner

26-Jan-09

present

Barack Obama


Federal Funds Rate VS Chairmen of the Federal Reserve



Chairmen of the Federal Reserve

William McChesney Martin, Jr. (April 2, 1951 — February 1, 1970)
Arthur F. Burns (February 1, 1970 — January 31, 1978)
G. William Miller (March 8, 1978 — August 6, 1979)
Paul A. Volcker (August 6, 1979 — August 11, 1987)
Alan Greenspan (August 11, 1987 — January 31, 2006)
Ben S. Bernanke (February 1, 2006 — )


My reaction: I made these charts a while ago. They strongly suggest that Secretaries of the Treasury have more influence over the Federal Funds Rate than Chairmen of the Federal Reserve.

So much for the "independent" Fed...


This entry was posted in Background_Info, Federal_Reserve, Treasury. Bookmark the permalink.

5 Responses to So much for the “independent” Fed…

  1. Anonymous says:

    What I see is a long-term cycle bottoming!! :-)

  2. Anonymous says:

    Timmy was the Chairman of the New York Branch of the Federal Reserve last year. Its a revolving door between the Treasury and the Federal Reserve. Its all the same organization just a different duty assignment within the organization.

  3. dashxdr says:

    Interesting article about how Russia and India are working on a supersonic missile to counter US missile defence:

    http://www.marketoracle.co.uk/Article14267.html

    The article says the missile can fired in groups and would be able to take out an entire naval battle group.

    The US military "might" rests upon obsolete technology, namely aircraft carriers which can be moved near the "rogue" state needing to be punished. A fast tactical nuclear missle can negate the US aircraft carrier threat.

    Net effect is the power of the US military is negated completely. The US is vehemently against the proliferation of nuclear weapons, not because it fears terrorists will use them, but because the US cannot bully any state with nuclear capability.

    The changing technology of the world is leaving the US military force where it should be: irrelevant. Truly the US military buildup represented nothing but pork barrel politics at its finest.

  4. Anonymous says:

    @dashxdr

    Is it me, or is it strange to find to find such an article at Market Oracle?

    It might be true that the technology of the US lacks in some areas...

    In others though it's far superior...

    However, be that as it may...

    This might interest you:

    Israel may attack Iran after December

    The question of the war to come is not one of if dashxdr, but of when...

    If for nothing else, history demands it.

  5. Anonymous says:

    Keep it coming, Eric. Your stuff is terrific.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>