Explainer-Whether centrist or progressive, the Fed’s new regulatory chief has long to-do list

Published by
Reuters

By Pete Schroeder WASHINGTON (Reuters) – While the U.S. Federal Reserve’s next top regulatory official is still in the balance, one thing is certain: whoever gets the job will have a jam-packed agenda tackling the gamut, from capital rules and fair lending to digital assets and climate change. Appointed to the Fed board by former Republican President Donald Trump, Randal Quarles will end his term as vice chair for supervision – a powerful role overseeing the country’s largest lenders – in October. President Joe Biden has yet to say who would replace him. Analysts and Washington insiders say th…

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