In Trump Era, The Fed's Powell Could Be 'Voice Of Moderation'

In Trump Era, The Fed's Powell Could Be 'Voice Of Moderation'

November 2, 2017, Law360

Michael Nonaka is quoted in a Law360 article regarding President Trump's selection of Jerome Powell to chair the Federal Reserve. According to Nonaka, Powell will bring a level of stability that should temper any radical moves, particularly on regulation and supervision of big banks. “He has experience being on the board, so he understands how large bank supervision works, understands the need for certain changes to the Dodd-Frank Act," he says.

Commenting on the relationship between Powell and Randal Quarles, vice chair for bank supervision, Nonaka says, "They’re both viewed as being pragmatists at times who have a pretty steady hand when it comes to overseeing regulatory regimes, supervisory regimes."