US Fed appoints Quarles for second term

Vice Chairman for Supervision Randal K. Quarles was sworn in for his second term as a member of the Board of Governors of the Federal Reserve System on Monday. The oath of office was administered by Chairman Jerome H. Powell in the Board Room.

 

Vice Chairman Quarles has served as a member of the Board of Governors since taking office on October 13, 2017, to fill an unexpired term. He was confirmed to his second term by the United States Senate on July 17, 2018. His term as a Board member ends on January 31, 2032, and his term as Vice Chairman for Supervision ends on October 13, 2021.

 

Prior to his appointment to the Board, Mr. Quarles was founder and managing director of the Cynosure Group, a Utah-based investment firm. Before founding the Cynosure Group, Mr. Quarles was a partner at The Carlyle Group, a private equity firm based in Washington, DC.

 

From September 2005 to November 2006, Mr. Quarles served as Under Secretary of the Treasury for Domestic Finance. Prior to serving as Under Secretary, from April 2002 to August 2005, Mr. Quarles was Assistant Secretary of the Treasury for International Affairs. During his tenure, Mr. Quarles served as policy chair of the Committee on Foreign Investment in the United States.

 

Prior to joining the Department of the Treasury, Mr. Quarles served, from August 2001 to April 2002, as the U.S. Executive Director of the International Monetary Fund.

 

 

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