1221. Governing the Federal Reserve System after the Dodd-Frank Act
- Author:
- Simon Johnson and Peter Conti-Brown
- Publication Date:
- 10-2013
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act increased the powers of the Board of Governors of the Federal Reserve System (hereafter the Board) along almost all dimensions pertaining to the supervision and operation of systemically important financial institutions. With Ben S. Bernanke's term as Fed chair ending in January 2014, much of the public's attention has focused appropriately on the identity, views, and experience of candidates for the successor, whose influence on bank regulation will be considerable. President Barack Obama's selection of current Board vice chair Janet L. Yellen as chair—a highly qualified choice—comes at the end of a long public debate on this nomination.
- Topic:
- Economics, International Trade and Finance, Financial Crisis, Governance, and Reform