Friday, September 23, 2011

Revolving Door (Sheets Edition)

Citigroup Inc. has hired former Federal Reserve economist Nathan Sheets as head of international economics in the company's investment research and analysis division.

Sheets was previously the director of the Division of International Finance at the Fed in Washington and was an economist for the Federal Open Market Committee, Citigroup said in a statement.

Further, as director of the Division of International Finance, Sheets briefed Fed Chairman Ben S. Bernanke and other officials on economic developments outside the U.S. and represented the Fed at international meetings.

Got that? Sheets was an economist for the FOMC. How would you like to have him advising you before you make investment decisions?

Sheets “brings with him an innate understanding of global macroeconomic issues and he will provide incredible guidance to our clients,” Andrew Pitt, global head of investment research said in the statement. Yeah, we got it, Andy.

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