I posted earlier on Randy Quales being appointed to the Fed to head banking oversight
The Wall Street Journal has put together a brief on Quarles' views on monetary policy:
On Adopting a Rule for Monetary-Policy Decisions
- "I am all for transparency; I think the Fed has that part of it right. What it has wrong is that it continues to believe that it shouldn't be following a rule. If you are going to be transparent in activity like the Fed's, you have to be much more rule-based in what you are doing. The transparency has to involve, 'This is the rule that we will follow.' So that the markets can say, "OK, we now understand what is the Fed is going to do. We can see what its inputs are."
On the Impact of Low Interest Rates
- "Years of near-zero interest rates have led to a rise in speculative positions across a wide range of asset classes, as all financial institutions find themselves under intense pressure to seek adequate returns."
Hmmm, not much to go on yet.
The Journal is gated, but if you can access it here is the link for more: Fed Nominee Randal Quarles in His Own Words
Views on monetary and regulatory policy from the pick for Federal Reserve vice chairman for supervision
