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Tuesday, January 25, 2022

Opinion | No, Sen. Warren, Jerome Powell is not a ‘dangerous man’

Mr. Powell responded that the banks could have endured those losses “without difficulty,” and that is in part because of the stress tests Ms. Warren argued are deficient. The chair also expressed willingness to revisit the decisions about which Ms. Warren complained. The Fed has far more tools now than it did before 2008 to police the financial system. To be sure, Mr. Powell has not used them as aggressively as Ms. Warren would prefer. But former senator Christopher J. Dodd (D-Conn.) and former representative Barney Frank (D-Mass.), the authors of the landmark Dodd-Frank financial regulation law, wrote two weeks ago that “these were not major attacks on the legislation, and nothing in Powell’s performance contradicts his assertion that he supports the basic framework we put in place.”

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