Fed nominee Liang would oppose relaxing Dodd-Frank rules but back simplification

21 September 2018 7:35am
US Federal Reserve nominee Nellie Liang, a registered Democrat, would likely resist Dodd-Frank rollbacks while honoring capital simplification plans outlined by Fed regulatory chief Randal Quarles.

Liang has argued forcefully in recent Brookings Institution papers that stringent regulation and oversight are needed to prepare for a recession sure to be triggered by unforeseen shocks.

Policymakers should prepare for sudden liquidity drops in normally deep markets and abrupt collapses of firms not considered threats to financial stability, she has said.