The details on Fed pay were provided to Reuters in response to a Freedom of Information Act request for data on all employees of the U. It is the first time the list has been made public. Republicans in the U. House of Representatives have sponsored a bill that would require the Fed to divulge that information publicly. Supporters of the Fed say the world's leading central bank needs top talent, and note that its expenses are not covered by taxpayers, but by the income it earns on securities it holds.

Critics, however, think the Fed has too much discretion. Former Senator Ted Kaufman said it was important for the central bank to hire and retain talented staff who could fetch more in the private sector. In government, you have to overcome the issue that there is no natural need to keep costs down," Kaufman said.

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Yellen Will Make Less as Fed Chair

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Federal Reserve Chair Janet Yellen Makes Less Than Other Staffers At The Fed | HuffPost

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