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Fed’s Quarles does not comment on monetary policy, economy

Editorial Bureau by Editorial Bureau
December 6, 2018
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Fed’s Quarles does not comment on monetary policy, economy

FILE PHOTO: Federal Reserve Vice Chairman for Supervision Randal Quarles addresses the Economic Club of New York in New York City, U.S., October 18, 2018. REUTERS/Brendan McDermid/File Photo

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PALO ALTO, Calif. (Reuters) – The Federal Reserve is “helping community banks remain competitive” and continue to play a central role in rural communities, in part by reducing regulations for smaller banks, Fed Governor Randal Quarles told the Stanford Institute for Economic Policy Research on Wednesday.

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He did not comment on the economic outlook or monetary policy in his prepared remarks, which focussed on banks in the Western United States.

(Reporting by Ann Saphir; Editing by Sandra Maler)

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