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
- Podcast: San Fran Fed’s Daly on gender inequality in central banks
- Turkish central bank carries out emergency rate hike as currency falls
- Malaysian central bank sends details of own land deal to anti-corruption body
- Strike halts Australian banknote production
- Dudley calls for ‘aggressive action’ on benchmark reforms