What Randy Quarles Brings to the Federal Reserve

The video discusses Randy Quarles' new role at the Federal Reserve, focusing on his potential impact on supervision, regulation, and monetary policy. It highlights his preference for a systematic, rules-based approach, contrasting it with the current committee's discretionary stance. The video also examines John Taylor's candidacy for Fed chair, noting his rules-based approach could lead to higher interest rates, but faces resistance from the current committee.

What is the significance of the Taylor rule in the context of interest rates?

What challenges might Quarles face in implementing changes to interest rates?