If President Trump picks Federal Reserve Board Gov. Jerome Powell as its next chair, it may represent the best of all worlds for bankers — a policymaker who will continue the central bank's monetary policy but be open to regulatory changes.
Sen. Tim Scott said Trump asked specifically about Stanford University economist John Taylor and Federal Reserve Governor Jerome Powell. He also mentioned the current Fed chair, Janet Yellen.
Federal regulators are moving forward with plans to finalize one of the last significant Obama-era rules governing long-term bank liquidity despite widespread expectations by banks that the proposal was all but dead.
Federal Reserve Gov. Jerome Powell said capital levels have been well calibrated but that some changes to the capital rules may be in order to make compliance easier.
The Fed announced Vice Chairman Stanley Fischer will depart in October, giving Trump the ability to rapidly reshape the central bank and target Dodd-Frank Act rules.
