Bowman won’t commit to stress-testing the tariff shock
Nominated Fed vice-chair stonewalls calls to run ad hoc scenario similar to 2020 Covid test
Michelle Bowman, nominated to be the next vice-chair for supervision at the Federal Reserve, found herself playing defence before the US Senate Banking Committee as she refused to commit to testing the resilience of the nation’s largest lenders from an increase in tariffs.
“We have a process for stress-testing that has already been underway this year and it will continue to move forward as we
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