New Hires

Most of us work in teams; I manage a small one as well. Imagine if the members of your team started leaving, one by one. It's happened to me frequently: my six person team once was reduced to two people other than me, leaving us under the gun each day. If a person called in sick, we were in trouble.

The solution is simple: get HR to provide more bodies. There comes a time when you've got people lined up...but their start date is in the future, so you're hurting, but the end is in sight.

Then there's the time that the people are ready to start but HR is bungling the paperwork. That's what's going on right now at the Fed.

"But wait, NBK! The Senate is not an HR department! I'm sure they have their reasons..." I can hear you say.

Hmm, not so much:

Diamond received the most opposition of the three Fed nominees in banking committee votes last week. The panel voted 16-7 in favor of Diamond, 17-6 for Yellen and 21-2 for Raskin, Maryland’s commissioner of financial regulation. All of the opposition came from Republican members.

So the Senate overwhelmingly approved them in committee, and moved them to the floor, and then certain members sent them back to the White House.

The Fed is supposed to have 7 people running the show...and they'll be down to 4 in June. I guess we'll just have to "work smarter" over here at The Reserve for now.