NYT's Binyamin Applebaum is reporting that the White House plans to nominate Allan R. Landon , the former chief executive of the Bank of Hawaii, to a seat on the Federal Reserve’s Board of Governors.
Landon, 65, ran the Bank of Hawaii from 2004 to 2010. It is one of the largest banks in the state, with total assets of about $12.4 billion – making it a relatively large community bank.
If he does join the board, he will not have any significant impact on monetary policy, that is controlled by Janet "Stanley Fischer" Yellen.
He sure won't have any impact on falling interest rates. With or without him, the 10 year UST will move below a one handle.
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Is this the same Hawaiian bank as the one where BO's grandmother was VP? A while back I read a polemic that asserted granny worked at a bank well known for its money laundering services to The Agency.
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