Fed's Quarles to step down by the end of the year
|Federal Reserve Board of Governors Member Randal Quarles will step down from his position by the end of the year. Quarles resigned from his position as Vice Chair for supervision of the banking system less than one month ago.
Fellow Board of Governors member Lael Braindard has been widely touted as a potential replacement for Randal Quarles' former position as Vice Chair for supervision.
Fed Chair Jerome Powell's term as chairman ends in February, another position for which Brainard has been touted as a potential successor. Most market participants continue to expect Powell to be renominated as Chairman of the Fed, however.
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