During his time as Fed governor, chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.
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.
The release of the September meeting of the Federal Open Market Committee minutes reinforce concerns that the central bank doesn't fully grasp the interplay between monetary policy, inflation, and unemployment.
House Republicans are ramping up their criticism of the Fed for making interest payments to member banks on excess reserves, and may have identified a way to counter claims that the payments are critical to monetary policy.
Fed Chair Janet Yellen called the Treasury's report a "complicated document" that shared many of the central bank's objectives, including reducing regulatory burden without sacrificing safety and soundness.