Trump's Fed Pick Powell Says He'd Hold Deutsche Bank Accountable
- Senator asked nominee how he’d handle lender with Trump ties
- On eve of key committee vote on nomination, Powell responded
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Donald Trump’s pick to run the Federal Reserve, responding to a key lawmaker’s concerns over the president’s ties to Deutsche Bank AG, said the agency will hold the German lender to the same standards as the rest of the industry.
Fed Governor Jerome Powell answered a letter from Senate Banking Committee member Chris Van Hollen ahead of the panel’s vote on his nomination to become chairman, telling the Maryland Democrat that he’s committed to supervising banks “in an independent manner.” Powell’s nomination was advanced by the committee on Wednesday, with Van Hollen voting in favor.