Should-Read: Miles Kimball: Contra Randal Quarles

Should-Read: Miles Kimball: Contra Randal Quarles: “my criticisms of Randal Quarles’ views above are not criticisms directed at Randal personally… https://blog.supplysideliberal.com/post/2017/7/30/contra-randal-quarles

…I think he is more likely to modify his views in response to cogent arguments than most prominent people are….

Ravi Menon, a Singaporean official who engaged in last-minute talks with Mr. Quarles on a U.S.-Singapore trade deal, wrote in 2004, “Right from the start, we took a problem-solving approach aimed at finding middle ground rather than trying to convert each other on ideological arguments.”…

Randal is not as dogmatic as many of those who are in positions of power, and is open to persuasion. Nevertheless, unless he reconsiders his views, I worry that a vote for Randal Quarles is a vote for another financial crisis, simply because as things stand, he is not committed to doing whatever is possible to continue to raise capital requirements on banks.