The Fed’s Lurch to the Left
The proportion of directors of Federal Reserve Banks who make political donations ‘only to right-leaning candidates’ falls to 8 percent in 2023 from 24 percent in 2015. Some 34 percent of directors are now ‘exclusively left-wing donors.’
Has the Federal Reserve lurched to the left? That’s the finding by the Manhattan Institute, which traces an “increasingly left-leaning, activist, and demographically diverse” tilt — and less experience, to boot — among directors of the 12 Federal Reserve Banks. Can the ostensibly nonpartisan, independent central bank be brought back to the vital center? The question is ripe with President Trump headed to the White House and the GOP poised to run Congress.
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