The post-Dodd-Frank era is one of rightsizing and tailoring rules, but a key bloc of the regulatory brain trust believes the U.S. still lacks mechanisms that could prove helpful in a crisis.
The central bank chairman said Friday that he would not step down if asked to do so by the president, adding that he has not received any direct communications from the White House about the agency’s interest rate policy.
While they won’t be in position to enact legislation, House Democrats could use their newfound power to spotlight issues that Republicans have largely ignored, including the exploding levels of corporate debt.
Federal Reserve Chair Jerome Powell largely hewed close to his predecessor's positions in his first congressional testimony as the top central banker, but also signaled important changes when it came to paying banks interest on reserves and other topics.
Jerome Powell is the first Federal Reserve chairman in more than a decade to have any background in the private sector. That could explain changes he's implemented in his first weeks on the job.
The journey Diane Morais is taking Ally on is all about being more relevant to customers. Doritos offers a lesson on how to do the opposite. CIT's Ellen Alemany says banks are 'terrific' about addressing sexual harassment. But what about the gender pay gap and boardroom balance?
Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.
The Federal Reserve on Friday slapped Wells Fargo with one of the harshest orders it has ever handed down, but the message it sent went far beyond a single institution.
Her career at the Federal Reserve is one of stunning accomplishments, but time will tell how her tenure ultimately is remembered on bank regulation and stewardship of the economy.
