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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Many large and admired private organizations (Google, Microsoft, Amazon, etc.) are now cutting jobs because they overhired during the pandemic. Yet, they expect to do just as well or better in the future. These same companies are also requiring more people to return to the office. One issue they cite is the decline in innovation. [b]What makes you think that the Fed - a government bureaucracy - is immune to the same issues and remedies?[/b][/quote]

Because the Fed should be more concerned with hiring talent with the appropriate experience than forcing them to go into an office to innovate.  The Fed isn’t google.  [/quote]

If you don’t think the Fed needs to innovate, the Fed should fire you. Let’s see, in the past few years there’s been crypto/digital coins, climate, fintech, financial stability, payment processing, LIBOR/SOFR to name a few issues that have required new or significantly revised study, policy, and supervisory changes. [/quote]

Does one have to show up in the office to “innovate”? It’s an easy calculus - WFH attracts and retains smart people who can innovate on Teams. [/quote]

And in terms of hiring someone to write policy for these market innovations, would you rather be able to hire someone in another part of the country with a lot of experience?  Or do you want to be limited to hiring people in DC?  [/quote]

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