Politics

Philip Jefferson was the Biden administration's pick for the Fed's number two position following the departure of Lael Brainard earlier this year. Two more Fed nominees are expected to get confirmation votes this week.

Banks have offered a more tepid critique of regulatory proposals to expand resolution planning and long-term debt for regional banks, suggesting the industry is intent on curbing July's Basel III capital proposal instead.

The Federal Reserve Board governors say they're worried about the added cost of the new requirement for non-systemically important banks as well as the implications for regulatory tailoring.

The special assessment to refill the Deposit Insurance Fund should be based on uninsured deposits after the failures of Silicon Valley Bank and First Republic Bank, House Republicans said.

The Federal Reserve is leading the push for broader, more standardized risk-capital rules, yet some of its board members, other regulators and industry groups are uncomfortable with the proposal.

Federal Reserve Board Gov. Phillip Jefferson joined three other board members in supporting a notice of proposed rulemaking, but expressed concerns about the economic impact of the changes.

The Bank Policy Institute and American Bankers Association want the Federal Reserve to conduct a public review process when determining scenarios for the annual exams. They also want more information on the test's internal models and formulas.

Analysts look at whether the FOMC will bring the last rate hike in the cycle, whether recession is coming, and whether the Fed is making a policy mistake.

The Consumer Financial Protection Bureau celebrates its 12th anniversary on Friday, prompting Director Rohit Chopra to discuss the agency's work including a proposal to set credit card late fees at $8 and the upcoming Supreme Court case that could defund the bureau.

The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.