The panel will vote on economist Richard Clarida to be vice chairman of the Fed board and Michelle “Miki” Bowman to take a seat designated for a community banking expert.
John Williams, a monetary policy expert, has been a critic of Wall Street culture and has voiced concerns about financial startups not offering equal access to credit.
The New York Fed has tapped San Francisco Federal Reserve Bank President John Williams as its next president, concluding a search process that has drawn criticism for being inadequately considerate of candidates with more diverse backgrounds.
In an interview with American Banker, the outgoing president of the Federal Reserve Bank of New York discussed changes in supervision, bank culture and his advice to his successor.
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.
The Federal Reserve Board's vice chairman for supervision said he did not foresee the agency’s regulatory review as significantly reducing capital levels.
Analysts are wondering what the big Japanese technology fund plans to do with its proposed stake in Swiss Re; the insurer takes a onetime $6.7 billion loss due to tax reform.
