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Fed Chair Race Spotlights Powell-Brainard Wall Street Rule Split

Aug. 31, 2021, 9:00 AM

President Joe Biden’s choice of who will lead the Federal Reserve may come down to a debate about regulating Wall Street.

Jerome Powell is viewed as the favorite to get the nod for another term leading the central bank, but progressive Democrats like Massachusetts Senator Elizabeth Warren and New York Representative Alexandria Ocasio-Cortez have lambasted the Republican chair for easing regulations on big banks. And some have praised Fed Governor Lael Brainard -- widely seen as the leading rival to Powell for the top spot -- for opposing those efforts.

That means Powell and Brainard’s approach to regulation is poised ...

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