Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
The Senate voted 80-19 Thursday to confirm Powell to the top spot on the Federal Reserve Board of Governors. He joins Philip Jefferson, who was confirmed by the Senate to serve on the board Wednesday night, and Lisa Cook, who was confirmed Tuesday night.
Lorie Logan manages the Fed’s System Open Market Account and played key roles in the central bank’s crisis responses in 2020 and 2008. She replaces Robert Kaplan, who resigned amid a stock trading scandal last fall.
The Federal Reserve governor said it isn't the central bank’s place to set regulations for specific risk scenarios, and he downplayed the risk that climate change poses to financial stability.
The Federal Reserve's semiannual financial stability report identified the conflict in Eastern Europe as the source of several key risks. Overall, it assessed the banking sector as more resilient than six months ago.
In its semiannual supervision and regulation report, the central bank cited strong balance sheets and liquidity but found risks for smaller banks.
The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a joint proposed rule Thursday meant to refocus and update its implementation of the landmark 1977 law.
The Federal Reserve’s Federal Open Market Committee voted Wednesday to raise interest rates to between 0.75% and 1%, the largest single rate hike since 2000.
Former Federal Reserve vice chair for supervision Randal Quarles delivered his strongest rebuke yet to the idea that the U.S. needs a central bank digital currency to avoid falling behind other countries, calling the argument one "you expect from a 17-year-old, but not from a central bank."
Sen. Pat Toomey, R-Pa., has made reforming the Federal Reserve Banks a priority for his final months in office. With Elizabeth Warren and others expressing overlapping concerns, changes may be within reach.
New guidelines proposed by the Federal Reserve last month do not go far enough to define who can get an account and how, according to a joint comment letter from several banking trade associations. The process has become contentious as more fintechs seek access to the reserve system.