Randal Quarles, formerly the Fed’s vice chair for supervision, will leave the central bank at the end of December.
11/9/21
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from The New York Times,
11/8/21:
The announcement that he will step down is likely to be greeted warmly by Democrats, many of whom have been critical of Mr. Quarles’s push to relax some postcrisis financial regulations. Many Democrats have been calling for the administration to nominate a diverse set of leaders to the central bank.
President Biden already has one open spot on the central bank’s seven-seat Board of Governors to fill, and will have another when Richard H. Clarida, the Fed’s vice chair, sees his term as governor expire early next year. This will give the administration at least three open spots.
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