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Quarles Hints He May Stay on as Fed Governor, Defying Warren

  • Notes that his term as a Fed board governor runs until 2032
  • Staying would mean one less Fed spot for Biden to fill
Randal Quarles
Randal QuarlesPhotographer: Zach Gibson/Bloomberg
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Randal Quarles left open the possibility that he might remain in his role as a Federal Reserve governor after his tenure as vice chair for supervision expires on Oct. 13 -- a move that would reduce the openings for the Biden administration to fill.

“My term as a governor of the Fed as you know extends until 2032,” Quarles said Tuesday during a virtual Politico Live interview. “There’s a tradition in our family but people serve out their full terms on the Federal Reserve board of governors even if they are no longer the chair or the vice chair still.”