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November 12, 2013

Yellen Met With Blankfein, Dimon as Prospects as Fed Chief Rose

As speculation grew that Federal Reserve Vice Chairman Janet Yellen would be nominated to lead the central bank, her appointment book beginning in April became peppered with meetings with the titans of finance.

Yellen’s calendars from February through July, obtained by Bloomberg News through a Freedom of Information Act request, show 30-minute meetings or phone calls with chief executive officers from some of the biggest banks. These included John Stumpf of Wells Fargo & Co. (WFC) on April 3, Jamie Dimon of JPMorgan Chase & Co. (JPM) on April 10, James Gorman of Morgan Stanley on April 15 and Lloyd Blankfein of Goldman Sachs Group Inc. on June 7.

Contacts with top finance industry executives aren’t unusual for Fed officials who, while setting monetary policy, are also responsible for supervising the largest financial institutions and managing the payments system. Yet in the six months prior to February, Yellen met in private with leaders of just two financial firms: Peter Fisher of BlackRock Inc. (BLK) and Michael Corbat of Citigroup Inc., according to her calendars.”

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Read full Bloomberg article here

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