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Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.

Federal Reserve Board Chair Jerome H. Powell swore in FRB Governor Philip N. Jefferson as Vice Chair, and FRB Governor Lisa D. Cook and Dr. Adriana D. Kugler as Board members.