Trump Nominates Quarles as Fed's Top Bank Regulator

The video discusses the appointment of a new vice chairman for supervision at the Federal Reserve, a role created by the Dodd Frank Law. The new appointee, an establishment Republican with experience in previous administrations, is expected to take a lighter approach to regulation. While he cannot change legislation, he can influence enforcement and potentially ease stress test requirements for banks.

What is the primary role of the Vice Chairman for Supervision at the Federal Reserve?

• To lead the Federal Reserve's research department

• To supervise international trade agreements

• To manage the Federal Reserve's monetary policy

• To oversee bank regulation

Why was the position of Vice Chairman for Supervision significant under the current appointee?

• It was a newly created position by the Dodd-Frank Law

• It was a position that required Senate approval

• It was the first time the position was formally filled

• It was a position that had been vacant for over a decade

What is the political affiliation of the new Vice Chairman, and how might it affect his approach?

• Libertarian, likely to eliminate regulations

• Republican, likely to reduce regulations

• Democrat, likely to increase regulations

• Independent, likely to maintain current regulations

What is one potential change in bank regulation that the new Vice Chairman might implement?

• Increasing the frequency of stress tests

• Eliminating stress tests altogether

• Reducing the frequency of stress tests

• Introducing new stress tests for small banks

What limitation does the Vice Chairman face in altering bank regulations?

• Insufficient funding for regulatory changes

• Lack of support from the Federal Reserve Board

• Opposition from international banks

• Constraints due to existing legislation