#revolving-door

#revolving-door

When the billionaire chief executive of AI chipmaker Nvidia threw a party in central London for Donald Trump's state visit in September, the power imbalance between Silicon Valley and British politicians was vividly exposed. Jensen Huang hastened to the stage after meetings at Chequers and rallied his hundreds of guests to cheer on the power of AI. In front of a huge Nvidia logo, he urged the venture capitalists before him to herald a new industrial revolution,

Elected officeholders come and go, but the Capitol has a permanent substructure of men and women who do the real, if often hidden, business of retail politics. Those in the community, as some dub it, constantly circulate among its three pillars staff on the public payroll, lobbyists for interest groups, and managers of political campaigns. It's not uncommon for someone to have portfolios in all three.

The time has come to ban the revolving door between the White House and the Federal Reserve, two academics argued last year. Doing so would be critical to reducing the incentives for officials to act in the short-term political interests of the president, they wrote. Eight months ago, the two writers Dan Katz and Stephen Miran joined the Trump administration in senior roles.