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FOMC Member Quarles Speaks – Key Takeaways

FOMC Member Quarles spoke about the Financial Stability Board agenda at a policy conference hosted by the European Central Bank, in Frankfurt. So far, I haven’t found anything directly relevant to move the market. However, here’s a glimpse of his updates.

Key Points:

The financial crisis exposed fault lines in the financial system that had to be addressed immediately, comprehensively, and vigorously.

The post-crisis reform program has been mostly completed.

The largest global banks have more capital and liquidity; essentially, over-the-counter derivatives markets are safer, and steps have been taken to address the risks of too-big-to-fail institutions.

He also shared some questions about working on relating to the rise of large technology firms in the financial sector and decentralized financial technologies.

Indeed, it does not have much to do with the forex market. Let’s now wait for the US GDP figures which are due in an hour from now at 12:30 (GMT). The market typically shows a strong movement on a surprising number.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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