> Fed's Quarles, says he is most focused on direction of global growth

Fed's Quarles, says he is most focused on direction of global growth

Thursday, 07/02/2019 | 00:00 GMT-0

Comments from Federal Reserve vice chair for supervision Quarles

Mostly on that very topic but he has expanded a little:

We have better tools than monetary policy to address financial stability concerns
He is most focused on direction of global growth, downdraft in China and Europe, trade policy
Says liquidity positions of banks are much stronger today than before financial crisis
Says some asset valuations are stretched but that financial stability risks are moderate

Quarles is Mr Supervision at the bank but as a Governor he has a vote on the FOMC. Governors are permanent voters, its the regional presidents that have a rotating vote.