WASHINGTON—Randal Quarles, the former regulatory chief of the Federal Reserve, said on Thursday that U.S. regulators may “unnecessarily” hamper innovation around so-called stablecoins if they pursue recent recommendations put forward by a Biden administration working group. Quarles, who will leave the Fed’s Board of Governors at the end of the month, said regulators must show…
Fed’s Quarles Says Regulatory Overkill Could Stifle Stablecoin Innovation
Federal Reserve Governor Randal Quarles to Resign at End of Year
Randal Quarles, a President Donald Trump-appointed Federal Reserve governor, said Monday that he will resign in December. Quarles was appointed to a four-year term as the Fed’s vice chairman for bank supervision, a role created after the financial crisis but never officially filled during the Obama administration, in October 2017 by Trump. His term as…
Fed’s Quarles Says He Doesn’t See Rationale for Central Bank Digital Currency
October 21, 2021
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Federal Reserve Governor Randal Quarles, until recently the U.S. central bank’s top financial regulator, on Wednesday said he does not understand the arguments in favor of issuing a central bank digital currency. “Until somebody answers me the question why, I don’t understand why we would devote the enormous amount of resources and the technological risk…
Fed Announces Quarles to Step Away From Internal Regulatory Lead Role as Vice-Chair Term Expires
WASHINGTON—The Federal Reserve said on Tuesday that Vice Chair for Supervision Randal Quarles would no longer lead the internal committee overseeing bank rules and supervision, as his term as the central bank’s top regulatory official expires on Wednesday. Instead, that panel will meet as needed on an unchaired basis, and any regulatory projects will only…
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