The FED Heads are political appointees

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 is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).