Fed's Quarles to step down by the end of the year

Joel Frank Independent Analyst

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.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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