Daniel K. Tarullo took the oath of office, today, as a member of the Board of Governors of the Federal Reserve System. The oath was administered by Chairman Bernanke in the Board Room.
The Senate earlier this week confirmed Tarullo, a former Clinton administration official.
Before joining the Clinton administration, he served as Chief Counsel for Employment Policy on the staff of Senator Edward M. Kennedy, and practiced law in Washington, D.C. He also worked in the Antitrust Division of the Department of Justice and as Special Assistant to the Undersecretary of Commerce. From 1981 to 1987, Tarullo taught at Harvard Law School.
The vote to confirm Tarullo was 96-1. Only Sen. Jim Bunning, R-Ky., voted against Tarullo.
Senator Bunning's office tells me that when the Senator met with Tarullo, he was unimpressed and that the Senator felt Tarullo was unlikely to break the logjam of group think at the Fed.
This is a very curious nomination by Obama. Tarullo has a stronger background in law than in finance. Word has it that he may be tight with White House advisor Larry Summers, who may be angling for Bernanke's spot. Thus, Tarullo may have been placed to watch Bernanke, rather than the economy. Consider, Tarullo a Summers chess piece.
Showing posts with label DanielTarullo. Show all posts
Showing posts with label DanielTarullo. Show all posts
Wednesday, January 28, 2009
Thursday, December 18, 2008
Obama Announces Tarullo to Fill Empty Fed Slot
President-elect Barack Obama will name Daniel Tarullo, a Georgetown University law professor, to take an open seat on the Federal Reserve Board.
Tarullo has no special understanding, if any, of the business cycle, monetary theory or inflation. Do not expect him to have much impact on the Fed Board. He's filler, who won't make waves and will back the inflation regime.
The ultimate insider, Tarullo held several senior positions in the Clinton administration, ultimately as Assistant to the President for International Economic Policy.
Prior to his appointment to that position, he had been Deputy Assistant to the President for Economic Policy, with special responsibility for regulatory and international issues. He was also a principal on both the National Economic Council and the National Security Council.
Before joining the administration,Tarullo practiced law in Washington. He spent a year as a senior fellow at the Council on Foreign Relations. He is currently a non-resident senior fellow at American Progress.Healso was Chief Counsel for Employment Policy on the staff of Senator Edward M. Kennedy.
Tarullo has no special understanding, if any, of the business cycle, monetary theory or inflation. Do not expect him to have much impact on the Fed Board. He's filler, who won't make waves and will back the inflation regime.
The ultimate insider, Tarullo held several senior positions in the Clinton administration, ultimately as Assistant to the President for International Economic Policy.
Prior to his appointment to that position, he had been Deputy Assistant to the President for Economic Policy, with special responsibility for regulatory and international issues. He was also a principal on both the National Economic Council and the National Security Council.
Before joining the administration,Tarullo practiced law in Washington. He spent a year as a senior fellow at the Council on Foreign Relations. He is currently a non-resident senior fellow at American Progress.Healso was Chief Counsel for Employment Policy on the staff of Senator Edward M. Kennedy.
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