“The board's record of summarily approving mergers raises doubts about whether it will serve as a meaningful check on this consolidation that creates a new too big to fail bank,” Sen. Elizabeth Warren said in a letter to the Fed.
If Cain is chosen for the Federal Reserve Board, it would be starkly out of step with the administration’s other nominations and may reveal a drastic change in the president’s attitude toward the central bank.
Federal Reserve Chairman Jerome Powell said a messy breakup between the United Kingdom and European Union could pose risks to the economy and financial system.
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.
Santander taps JPMorgan Chase exec Colleen Canny to lead retail network; can Trump actually fire Fed's Powell?; will 2019 bring long-awaited reform of Fannie Mae, Freddie Mac?; and more from the past two week's most-read stories.
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.
