The Backgrounds of the Economists Defending the Federal Reserve

Jim Chappelow, in the comments section of the Fed Friendly Economists In Panic Mode Over Ron Paul Audit Legislation post, writes the following:

For the record, here are the creators and initial signers of the document:

Ricardo Caballero, Massachusetts Institute of Technology

“visiting scholar and consultant at the European Central Bank, the Federal Reserve Board, the Inter-American Development Bank, the International Monetary Fund, the World Bank, as well as at central banks and government institutions throughout the world” MIT bio

Kenneth French, Dartmouth College

No known direct association

Robert Hall, Stanford University

“has advised a number of government agencies on national economic policy, including the Justice Department, the Treasury Department, the Federal Reserve Board, and the Congressional Budget Office” Stanford bio

Anil Kashyap, University of Chicago Booth School of Business

“spent three years as an economist for the Board of Governors for the Federal Reserve System. He currently works as a consultant for the Federal Reserve Bank of Chicago, and serves as a member of the Economic Advisory Panel of the Federal Reserve Bank of New York” U Chicago bio

Pete Klenow, Stanford University

“2000-2003: Senior Economist, Federal Reserve Bank of Minneapolis” Stanford CV

Frederic Mishkin, Columbia University

“from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. . . [f]rom 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.” Columbia bio

Thomas Sargent, New York University

“June, 1971 – June 1987 Advisor, Federal Reserve Bank of Minneapolis” NYU resume

Michael Woodford, Columbia University

“Visitor, Research Department, Federal Reserve Bank of Minneapolis, November 1987. . . Consultant, Research Department, Federal Reserve Bank of New York, 1995-1997. . . Visitor, Division of Monetary Affairs, Federal Reserve Board of Governors, September 1996.
. . Visitor, Division of Monetary Affairs, Federal Reserve Board of Governors, July 1998.
Visitor, Research Department, Federal Reserve Bank of Kansas City, August 1998. . . Visitor, Research Department, Federal Reserve Bank of Atlanta, August 2000. . . Visitor, Division of Monetary Affairs, Federal Reserve Board of Governors, July 2002. . . Visitor, Division of Monetary Affairs, Federal Reserve Board of Governors, April 2003.
,. Visiting Scholar, Federal Reserve Board, June 2008.” Columbia CV

“serves on a Monetary Policy Advisory Panel for the Federal Reserve Bank of New York” Columbia bio

I wonder if the Fed pays them with newly printed money, or taxpayer money--RW