Fed Inspector General Defends $378,000 Pay From Senate Criticism
This article is for subscribers only.
The Federal Reserve’s top internal watchdog is pushing back against lawmaker criticism of his $378,000 annual salary and the independence of his office.
Mark Bialek, the Fed’s inspector general, told senators on a Banking Committee subcommittee that the pay was necessary to attract appropriate talent. Bialek also bristled at the suggestion that he lacked independence because he could be fired by the Fed’s board, adding that there were many watchdogs in the government with a similar structure.