Warren Accuses Powell of Giving Bank CEOs Too Much Influence (1)

Senator Elizabeth Warren says Federal Reserve Chair Jerome Powell is giving bank chief executive officers too much opportunity to influence key policies, including executive-compensation and bank-capital proposals.

In a letter sent Tuesday to Powell, Warren criticized him for having multiple private meetings and talks with top executives — including 19 with JPMorgan Chase & Co. CEO Jamie Dimon since February 2018.

Senator Elizabeth Warren, a Democrat from Massachusetts

Photographer: Al Drago/Bloomberg

Warren wrote that these meetings and conversations between Powell and the executives “appear to be shaping Fed policy” and that the regulator is now “floating a gutted proposal,” referring to the bank-capital plan.

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