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Under Powell, Wall Street Expects Steady Wins on Regulation

  • Fed chair would partner with Randal Quarles on bank rules
  • Industry oversight is expected to ease under Trump’s Fed team
Bloomberg business news
President Trump nominates Jerome Powell to be the next Federal Reserve chairman.(Source: Bloomberg)
Updated on

In Jerome Powell, banks won’t get a Federal Reserve chairman who is hell-bent on ripping up financial rules. But in some ways, that’s better for Wall Street.

With a resume steeped in industry experience and long-standing relationships with financial executives, Powell is expected to take a measured approach to rolling back regulations adopted in the wake of the 2008 economic crisis. He’s seen as a practical, not ideological, watchdog who will be able to get things done.