Commentary by Steven Lofchie
Former Vice Chair for Supervision Randal K. Quarles covered a broad range of topics in his farewell remarks. He celebrated the overall strength of the banking system and suggested areas where there is latitude for regulatory change or recalibration.
“But I did at the time, and still do, have concerns about the possible precedents that have been created by the novel [credit] facilities that we [the Federal Reserve] created [as a reaction to the pandemic].”
Federal Reserve Board Vice Chair for Supervision Randal K. Quarles
Read his remarks, Between the Hither and the Farther Shore: Thoughts on Unfinished Business.