{"id":439900,"date":"2010-03-17T16:23:48","date_gmt":"2010-03-17T20:23:48","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/03\/17\/volcker-wants-second-vice-chair-at-fed\/"},"modified":"2010-03-17T16:23:48","modified_gmt":"2010-03-17T20:23:48","slug":"volcker-wants-second-vice-chair-at-fed","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/439900","title":{"rendered":"Volcker Wants Second Vice Chair at Fed"},"content":{"rendered":"

The latest Senate proposal to overhaul financial regulation includes a provision to create a second vice chairman of the Federal Reserve Board<\/strong> in Washington who would be directly responsible for bank supervision.<\/p>\n

It’s an unusual proposal that received little attention before draft Senate legislation was unveiled Monday. But it has a strong proponent: Former Federal Reserve<\/strong> Chairman Paul Volcker<\/strong>, who is an economic adviser to President Barack Obama<\/strong>.<\/p>\n

Testifying before a House committee, Mr. Volcker said he’s been an advocate of designating one of the Fed governors as a vice chair for supervision to elevate the importance of the role.<\/p>\n

“I think you need that continuing focus and clear sense of responsibility so that the attention that the Federal Reserve pays is less subject to maybe ups and downs over time,” Mr. Volcker told the House Financial Services Committee<\/strong>. “Let’s build it into the organization in a way that maybe it hasn’t been built in as conclusively as it should have been in the past.”<\/p>\n

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The latest Senate proposal to overhaul financial regulation includes a provision to create a second vice chairman of the Federal Reserve Board in Washington who would be directly responsible for bank supervision. It’s an unusual proposal that received little attention before draft Senate legislation was unveiled Monday. But it has a strong proponent: Former Federal […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-439900","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/439900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=439900"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/439900\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=439900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=439900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=439900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}