Philly, Cleveland Fed presidents net inflation-busting pay rises

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The presidents of the Philadelphia and Cleveland Federal Reserve banked 17% and 14% salary hikes in 2009, the Federal Reserve's latest Annual Report, out on Monday, shows.

Figures on Federal Reserve annual salaries show that Charles Plosser, the president of the Federal Reserve Bank of Philadelphia, earned $344,700 in 2009, 17% higher than in 2008. Sandra Pianalto, the president of the Federal Reserve Bank of Cleveland, earned $341,600 last year, up 14% on her remuneration for the previous year.

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