The Federal Reserve Heads are political appointees

Jim Rogers : "Unfortunately, most of the heads of the Federal Reserve in United States history have not understood what's going on," "It's a political appointee, and whoever can brown-nose the best gets the job." - in Yahoo Finance
 
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.