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Powell’s take on banking rules should make Elizabeth Warren happy

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Federal Reserve Chairman Jerome Powell said this week that the central bank is unlikely to alter its liquidity requirements for banks, a position that may endear him to Sen. Elizabeth Warren but also could lead to more headaches for the industry.

During a news conference Wednesday, Powell was asked whether the Fed might change the rules for big banks after the mid-September money crunch that sent very short-term lending rates surging.

The Fed has since responded with programs aimed at keeping its overnight funds rate within its quarter-point target range, as well as making sure there’s enough liquidity in the system to keep the short-term funding operations, known as repo, running…



Source cnbc.com

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