Trump feuds hurting U.S. banking regulators’ influence abroad
By John Heltman
President Trump’s recent comments alienating European allies and continued espousing of protectionist trade positions is hurting Federal Reserve Vice Chairman for Supervision Randal Quarles’ apparent efforts to lead the G-20-affiliated Financial Stability Board. The continued tension between Trump and European leaders may also weaken U.S. regulators’ influence abroad. …But Karen Shaw Petrou, managing partner at Federal Financial Analytics, said that the president’s recent comments may have hurt Quarles’ chances of leading the FSB as well as U.S. officials’ ability to influence or shape international discussions on bank regulation. “The trade war and the rhetoric surrounding it has far-reaching implications, not only for the ability of Americans to head global decision-making bodies, but even to be listened to on them,” Petrou said.