What a Kevin Warsh-Led Fed Means for Big Banks Like JPMorgan Chase and Bank of America
The Federal Reserve not only sets monetary policy but also plays a major role in bank regulation.
What a Kevin Warsh-Led Fed Means for Big Banks Like JPMorgan Chase and Bank of America
Overview
Kevin Warsh is now chairman of the Federal Reserve's Board of Governors. If past comments from Warsh are any indication, then big changes could be coming to the Fed and the banking industry.
Warsh has spoken publicly about how he thinks the Fed has played too large a role in financial markets, whether through its transparency about future interest rate policy or the size of the Fed's balance sheet.
Details
It's also worth noting that the Fed regulates bank holding companies and has significant control over bank regulation, particularly for large banks. Here's what a Warsh-led Fed means for big banks like JPMorgan Chase (NYSE: JPM) and Bank of America.
Source
Originally published at www.fool.com.
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