Jerome Powell

While regulatory relief legislation would raise the asset threshold for “systemically important” banks, Federal Reserve Chairman Jerome Powell said the central bank could still apply prudential scrutiny to banks below that new cutoff.

There's too much momentum and too little debt for rising interest rates to derail the U.S. economic expansion or drive up the cost of home ownership.

Senate Majority Leader Mitch McConnell, R-Ky., filed a motion on the Senate floor Thursday setting up a potential vote next week on the bipartisan regulatory relief package.

Democrats used a hearing with Fed Chair Jerome Powell to lay the groundwork for an intraparty debate over the merits of the Senate’s regulatory relief bill.

Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.

Senators overwhelmingly approved Jerome Powell to lead the Federal Reserve Board despite vocal opposition from some Democrats.

The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.

More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate.

The Trump administration's Financial Stability Oversight Council is likely to remove the systemically important financial institution label for the remaining nonbanks on the list, but it might consider adding other firms such as Fannie Mae and Freddie Mac.

Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.