Items Tagged with 'Federal Reserve'

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Trump reportedly close to choosing the new "most powerful man in banking"

Set to name Randal Quarles as Fed vice chairman of supervision
President Donald Trump is reportedly close to choosing a replacement for the “most powerful man in banking.” That characterization is in reference to Daniel Tarullo, who recently stepped down as a member of the Board of Governors of the Federal Reserve System. Here are the details on Trump's reported choice to serve as the Fed's new vice chairman of supervision.
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Trump's latest revision: Keep Fed Chair Yellen and low-interest rates, too

"I like her, I respect her"
President Donald Trump tweaked a few of his previous alarming comments made on the future of America’s economy in a new interview with The Wall Street Journal. Back when he was running for office, Trump has made a handful of assertions on what he planned to do if president, including firing Federal Reserve Chair Janet Yellen. Is Yellen's job secure now?
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Richmond Fed President Jeffrey Lacker resigns, admits to leaking confidential information

Lacker was source of 2012 leak about Fed plans to spur economic recovery
Jeffery Lacker, the president and CEO of the Federal Reserve Bank of Richmond and a member of the Federal Open Market Committee, abruptly announced his resignation on Tuesday, revealing himself as the source of a leak of confidential information that spurred investigations by the Department of Justice, the Office of the Inspector General of the Federal Reserve Board, the Federal Bureau of Investigation, the Commodity Futures Trading Commission, and others.
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Trump reportedly considering former OneWest CEO to lead OCC

Joseph Otting worked closely with Treasury Secretary Steven Mnuchin
President Donald Trump is “expected to name” Joseph Otting to serve as the Comptroller of the Currency, one of the country’s top financial regulators, per a CNBC report. Otting served as the CEO of OneWest Bank from 2010 until 2015, working alongside Steven Mnuchin, the recently installed Secretary of the Department of the Treasury and the former chairman of OneWest.
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NY Fed president compares Wells Fargo fake account scandal to subprime mortgage crisis

Dudley: Like subprime crisis, compensation made bankers ignore consequences
The president of the Federal Reserve Bank of New York told the Banking Standards Board in London on Tuesday that he sees quite a few similarities between the Wells Fargo fake account scandal and the subprime mortgage crisis of the late 2000’s. "Compensation, once again, seems to be at the center of a scandal," NY Fed President William Dudley said in the speech.
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An inside look at why one Fed president voted not to raise interest rates

Thoughts from Minneapolis Fed President Neel Kashkari
Minneapolis Fed President Neel Kashkari is the only Federal Reserve official who voted against raising the existing target range for the federal funds rate during the March meeting. Kashkari, in a rare move, explained his reasoning in a blog post on Medium. In his words, “Given that I reached a different conclusion than my colleagues, I thought it appropriate to provide an explanation.”
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Atlanta Fed selects former HUD assistant secretary Raphael Bostic as new president

Served as HUD assistant secretary for policy development and research
The Federal Reserve Bank of Atlanta announced Monday it selected Raphael Bostic to serve as its new president and chief executive officer. Bostic brings significant housing experience to this position. From 2009 to 2012, Bostic served as assistant secretary for policy development and research at the Department of Housing and Urban Development.
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