Fighting inflation, rescuing banks: The Fed’s sprawling jobs collide

The central bank’s deliberations typically revolve around the next interest rate hike, and analysts expect a quarter-point hike could be announced Wednesday. Worse for the Fed, its moves to raise rates fast helped fuel the banking turmoil of the past two weeks. Problems in the financial markets have the additional effect of tightening financial conditions even further. But unlike most recent news conferences, this one will likely also focus heavily on bank supervision and the Fed’s role in the financial system. He frequently sided with the Fed’s top banking cop at the time, Randal Quarles, who led the charge during the Trump administration to ease restrictions.