Randal Quarles, President Trump's nominee for Federal Reserve vice chairman for supervision was confirmed by the Senate despite continuously facing criticism for being too easy on banks ahead of the 2008 financial crisis.
Quarles, 60, is managing director at family-investment specialist Cynosure Group and was the undersecretary for domestic finance in former President George W. Bush's Treasury Department prior to the 2008 financial crisis.
The Senate Banking Committee recommended in a split vote on September 7, that the full chamber confirm Quarles for the central bank.
Quarles' confirmation comes just as Fed Vice Chairman Stanley Fischer is expected to resign from his role on October 13. If the full chamber comes to a decision prior to October 13, the Fed will maintain at least a four-member board, otherwise it would have been down to three.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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