Forget Treasury Secretary. This Trump Pick Matters Most to Banks

Nov 22

From: Bloomberg

As President-elect Donald Trump’s hiring spree captivates White House watchers, the biggest banks are laser-focused on a little-known position that’s neither a cabinet job nor the head of a government agency: a first-ever Federal Reserve vice chairman to oversee Wall Street.

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“The most important appointment for Wall Street banks” is the head of supervision, said Mark Calabria, director of financial regulation studies at the Cato Institute. “The Federal Reserve has come out of Dodd-Frank as an uber-regulator.”

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