Randal Quarles

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Definition of 'Randal Quarles'

Randal Quarles is an American attorney and banker who currently serves as the Vice Chair for Supervision of the Board of Governors of the Federal Reserve System. Quarles was nominated by President Donald Trump and confirmed by the Senate on October 5, 2017. He was sworn in on October 13, 2017, for a term ending on October 13, 2021. In 2021, President Joe Biden reappointed him to a new term ending on October 13, 2032.

As Vice Chair for Supervision, Quarles is responsible for overseeing the Federal Reserve's supervision and regulation of large banks and financial institutions, as well as for developing and implementing banking and financial policy in the United States. Prior to his appointment to the Federal Reserve, Quarles served as the Under Secretary of the Treasury for Domestic Finance from 2005 to 2006 and as an executive at private equity firm The Carlyle Group.

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