FED PRESIDENTS REVEAL ASSETS - NYT’s Binyamin Appelbaum: “The Federal
Reserve, in its latest show of transparency, on Tuesday made available
to the public the annual financial disclosures filed by the 12
presidents of its regional banks for 2010. ... What did we learn? Some
Fed presidents are very wealthy; a few have strikingly little wealth.
Some hold shares in individual companies; some prefer index funds. And
as a group, they have much more reason to fear inflation, which weighs
on the wealthy, than to fear high unemployment ... The disclosures also
do not include annual salaries, information that the Fed discloses
separately. The 12 presidents received an annual average salary of
$345,000 in 2010. ...
“Excepting Mr. Bullard’s blank form, the president with the least
reported wealth is Jeffrey Lacker, president of the Richmond Fed, whose
assets - a checking account, a money market fund and a retirement
annuity - are worth no more than $150,000. ... At the other end of the
spectrum stand William C. Dudley, president of the New York Fed, who
reported assets worth at least $8.5 million, and Richard W. Fisher of
the Dallas Fed, who reported assets worth at least $21.5 million. ...
Mr. Fisher, a constant siren on the subject of inflation, owns at least
$1 million in gold, and smaller quantities of platinum and uranium, popular investments for those who fear inflation.”
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