Fed nominees back regulatory efficiency drive

Elizabeth Warren
Elizabeth Warren: “I am concerned about your lack of background on regulatory issues”
Senate 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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