graham steele
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grahamsteele.bsky.social
graham steele
@grahamsteele.bsky.social
Focused on the law & politics of finance.

Currently Rock Center at Stanford Law School & Roosevelt Institute. Former Assistant Secretary, US Treasury Department & Democratic chief counsel, Senate Banking Committee.

https://law.stanford.edu/graham-steele/
It’s not a hypothetical concern. In this paper I discuss the time that Russia approached China about further destabilizing the US economy by dumping US treasury and agency debt during the 2008 financial crisis.

papers.ssrn.com/sol3/papers....
January 18, 2026 at 7:52 PM
The Secretary suggests maybe the markets *want* a more politicized central bank.
January 18, 2026 at 6:38 PM
I don’t know the history here, but it seems to me that having a different FOMC chair and Board chair would create its own set of institutional legitimacy issues for the Fed.
January 13, 2026 at 9:58 PM