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Fed Chairman Powell: Welcome new ideas on the capital framework for large banks.
[Chain News] PANews reports that Fed Chairman Powell delivered a welcome speech at a regulatory meeting today, but as expected, he did not make any statements that would spark controversy or make news. In a brief prepared speech, Powell did not provide any hints about monetary policy and did not mention the pressures from the Trump administration. This is not surprising, as Fed officials are in a "quiet period" ahead of the meeting on July 29-30 and are not allowed to publicly comment on interest rates and the economy. However, he expressed a willingness to hear suggestions regarding bank regulatory rules and capital issues. Powell said, "The Fed is a dynamic institution. We are open to new ideas and feedback on how to improve the capital framework of large banks, and I look forward to hearing from today's participants."