They want to keep it that way. And President Trump's expected nomination of Randal Quarles to the vice chair's role is about as close a guarantee as the shadow banking sector can get that the feds won't be bothering them any time soon.
The previous week's safe haven-inspired losses attracted bargain-hunters, especially for beaten down financial stocks that were supported by positive bank results and expectations the Trump administration will install bank-friendly Randal Quarles as ...
WASHINGTON - Randal Quarles, the latest front-runner for the vice chair of banking supervision at the Federal Reserve Board, would represent a moderate, mainstream Republican choice that is likely to be welcomed by the Financial Services industry.
Corporate attorney Thomas Vartanian, Harvard Law professor Hal Scott and Randal Quarles, a former Treasury Department undersecretary for domestic finance, have all interviewed for the sport, according to Reuters.