By Matt Hawes
Via The Washington Post:
Fed Vice Chairman Donald L. Kohn will retire June 23, according to a letter he submitted to Obama on Monday morning. His term as vice chairman ends that day, though Kohn, 67, could have elected to remain at the Fed as a governor through 2016….
And as for that notion you may have heard elsewhere that the Fed is insulated from politics:
“I have a hard time seeing hawkish board members being appointed for two reasons,” said Michael Feroli, a senior economist at J.P. Morgan Chase. “One, board members tend to go along with the chairman, and the chairman right now happens to be pretty growth friendly. And second I can’t see the administration given the current economic environment wanting to put in a Hoenig type.”…