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Statement on Nomination of Randal Quarles to the Federal Reserve Board of Governors

Statement

Date: Sept. 7, 2017
Location: Washington, DC
Issues: Monetary Policy Government Operations

U.S. Sen. Mark R. Warner (D-VA) released the below statement on Randal Quarles, President Trump's nominee to be the Federal Reserve's Vice Chairman for Supervision:

"While Mr. Quarles and I do not agree on every issue--such as his support for a rigid monetary policy rule that would have hamstrung the Fed's response to the financial crisis--I believe he is well qualified to be the top regulator at the Fed. I expect his experience in public service and the private sector will aid him in the development of financial regulatory policy. In my role on the Senate Banking Committee, I look forward to working with him to ensure we have a financial regulatory system that promotes growth and stability, and maintains the tools included in Dodd Frank to wind down large financial institutions. As I've done with Mr. Quarles, I will be carefully reviewing the credentials and views of any future Fed nominees. The President should seek candidates who can gain bipartisan support."


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