Randal Quarles

The U.S. economy will probably fall into a recession as the Federal Reserve combats multidecade-high inflation, Randal Quarles, the Fed’s former vice chair for supervision, said.

Senate Banking Committee Chair Sherrod Brown said he expects Federal Reserve Vice Chair Randal Quarles’s oversight of the central bank’s financial supervision to end with the conclusion of his term in October.

Randal Quarles left open the possibility that he might remain in his role as a Federal Reserve governor after his tenure as vice chair for supervision expires on Oct. 13 — a move that would reduce the openings for the Biden administration to fill.

The Fed’s vice chair of supervision said the Fed's backstop lending to states and localities "may not be the answer to all their issues."

A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders.

The lawmakers argued in a letter to the Federal Reserve that suspending dividend payouts would be the "prudent course of action," allowing banks to build their capital cushions and continue lending during the coronavirus pandemic.

Market participants want the Fed to get the program up and running by the end of this month.

Federal Reserve Vice Chairman for Supervision Randal Quarles said financial strains triggered by the coronavirus have eased but “the storm” is not over and further steps may be needed to shelter the U.S. from the pandemic.

The Federal Reserve’s point person on financial regulation said the central bank is considering changes to its bank-supervision framework to enhance money-market liquidity.

The Federal Reserve’s banking regulation chief granted that Wall Street may have been right that the agency shares blame in September’s alarming strain in money markets.

The yield curve inverting doesn’t scare Federal Reserve Vice Chair for Supervision Randal Quarles, he said, and he doesn’t see it predicting a recession.

Federal Reserve Governor Randal Quarles expressed optimism about the state of the U.S. economy, calling strong hiring and low inflation a “good environment” even as investors focus on mounting threats to growth.

The choice appears to reaffirm U.S. regulators' commitment to the international standards-setting body.

With uncertainty about the tools used to measure the economy, Federal Reserve Board Vice Chair for Supervision Randal Quarles said Thursday, it is important to map out a monetary policy strategy and stick to it.

Federal Reserve Governor Randal Quarles offered an optimistic view of the U.S. economy, suggesting it may be on the cusp of a sustained period of faster growth and reaffirming his support for “gradual” interest-rate increases.

Federal Reserve Governor Randal Quarles delivered an upbeat assessment of the U.S. economy and endorsed a “gradual” path for raising interest rates in his first public speech on monetary policy since joining the central bank in October.

The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.

Randal K. Quarles was sworn in as a member of the Federal Reserve Board of Governors and as vice chair for supervision on Monday, the Fed said.

Randal Quarles was confirmed 65-32 as a Fed governor, and by voice vote as the vice chairman of banking supervision.

The Senate invoked cloture to begin the process of confirming Randal Quarles as a governor on the Fed board.