Fed’s Miran Calls to Prioritize Reworking Bank Regulations

Federal Reserve Governor Stephen Miran wants to see the agency rework a raft of Wall Street regulations before policymakers delve into other economic questions around the central bank’s balance sheet.

“For many years, financial regulation mostly moved in one direction, increasingly restricting the banking sector,” Miran said Wednesday in prepared remarks for the Bank Policy Institute, a Washington-based trade group. He added that interactions of regulation with financial markets, the economy and monetary policy implementation are too often unappreciated.

“While discussions about bank reserve balances and interest paid on reserves, the composition of the balance sheet, and Treasury market intermediation ...