Biden gets a new opening to shape the Federal Reserve

Randal Quarles, who was the Federal Reserve's vice chair for bank supervision, submitted his resignation on Monday and will step down from his post at the end of December.

Why it matters: Quarles' resignation opens up a seat on the Federal Reserve Board for President Biden to fill, giving Biden an avenue with which to shape the Fed — and a choice that could offer a clue about the president's broader vision for the central bank.

What he's saying: "It has been a great privilege to work with my colleagues on the Board, throughout the Federal...