In 2017 (latest available report), the Fed had 19,161 employees, including 1,630 “other officers” (not the President), making, on average, salaries (ex-benefits) of $233,099.

via @RudyHavenstein:

In 2017 (latest available report), the Fed had 19,161 employees, including 1,630 “other officers” (not the President), making, on average, salaries (ex-benefits) of $233,099. The rest averaged over $100k. www.federalreserve.gov/publications/2

If you add up “Salaries and other personnel expenses” and “Retirement and other benefits” (Table 10), you get $3.147 billion, which averages out to about $164k per employee. The median US wage in 2017 was $31,561.49. www.ssa.gov/oact/cola/cent

So I’m reading one of the thousands of papers these cultists write (they have to justify those $100k-$200k salaries). They take for granted that econ profs price-fixing rates leads to growth (see: Japan). Also you can see why they all hate cash. www.frbsf.org/economic-resea

 

 

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