Speaking in New York
- Says newly nominated Fed Chair Powell will do just fine
- US economy is on a much more even keel
- He's a big fan of Jay Powell and Randy Quarles; Really high quality people
- expects smooth transition between Yellin and Powell
- Current committee is really very much of the same
- bank stress tests are going to remain very stressful
- Can look if stress tests can be done more efficiently
- US deficit suggests there is little fiscal capacity to deal with economic downturn