Quarles will resign from Fed board at end of year
Former vice-chair for supervision had 10 years left as governor
The Federal Reserve announced today (November 8) that Randal Quarles had resigned from the board of governors.
The Fed vice-chair’s light-touch approach to regulation has proven controversial among some Democrats that now control the White House and both houses of Congress.
In his letter to US president Joe Biden, Quarles said that his resignation would become effective “during or around the last week of December of this year”.
Quarles had served as Fed vice-chair for supervision from October
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