Deals
Senate Confirms Ex-Carlyle Executive Randal Quarles as Fed Vice Chairman
- Trump nominee approved by Senate as one of seven Fed governors
- He’ll be first to fill watchdog role created by Dodd-Frank Act
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Randal Quarles was approved by the U.S. Senate as the Federal Reserve’s first-ever vice chairman for supervision, a post that would give him a pivotal role in efforts to dial back post-crisis rules that Trump administration officials have said are stunting growth.
As Quarles joins the Fed board, he’ll become the first of several central bank members President Donald Trump will select as the White House moves to reshape Wall Street oversight and guide an economy in its ninth year of expansion. He’s also the only bank regulator confirmed under Trump, whose administration has been limited in its efforts to loosen constraints on bankers.