Fed nominees back regulatory efficiency drive
Nominees stick to efficiency line despite hostile questioning from some Democrats
The two latest nominees to the Federal Reserve Board indicated they were broadly aligned with a push in the US for more “efficient” regulation, with greater tailoring to banks’ risk profiles.
Richard Clarida, who is under consideration for a vice-chair position, and Michelle Bowman, a nominee as Fed governor, testified before the Senate Banking committee today.
Both stressed their commitment to adjusting post-crisis regulation, with Bowman, a community banking specialist, particularly keen to
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