July 11, 2017
Randal Quarles has been nominated to the Federal Reserve Board by President Trump. Seen as a proponent of financial deregulation and also as a monetary hawk, Quarles served in the Treasury during the Bush administration and has voiced opposition against breaking up big banks. Trump has pegged Quarles to fill the open position of Vice Chairman for Supervision which is a yet-to-be-filled post created after the financial crisis. Quarles would fill the remainder of a term expiring early next year followed by an additional 14-year term expiring 2032. Quarles, whose confirmation hearing before the Senate has yet to be scheduled, would fill one of three open positions on the Board.