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Randal Quarles is a member of the Federal Reserve’s Board of Governors and is the newest appointment to the group, having come on board in October 2017 after President Donald Trump nominated him for the central bank. He is speaking Monday at the National Association for Business Economics conference.
In addition to being a governor, he also is vice chair for supervision, a key position that gives him a strong level of influence on banking regulations. Quarles is expected to take a lighter hand at regulation following the post-financial crisis reforms.
This is a critical time for the Fed. Investors widely expect the policymaking Federal Open Market Committee to approve three interest rate hikes this year, though the pace of inflation could spur the panel into more aggressive action.
Quarles’ speech comes a day ahead of congressional testimony from new Fed Chairman Jerome Powell.
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