>> Big changes are coming to the Federal Reserve that may allow President Trump more easily roll back Wall Street regulations. I'm Jonathan Spicer, Reuters' Fed correspondent here in Chicago. Dan Tarullo, a very powerful and influential governor at the Federal Reserve, will be resigning in April. He sent a letter to Trump saying as much.
This is big news on Wall Street and big news globally for anyone who cares about bank regulations, about all of the work that's been done in the last seven or eight years to basically fix and make stronger banks and financial institutions after the financial crisis that led to a global recession.
Him leaving opens up, right away it opens up a seat at the powerful Board of Governors for the Federal Reserve for President Trump to fill with whoever he chooses, or whoever the Senate will also approve. And for the Fed, it possibly means that they have one less very strong and thoughtful leader as it potentially takes on Congress and the Administration on the plan revamping those regulations.
There's been a lot of talk of the Dodd-Frank legislation and how Republicans want to repeal parts of that. Dan Tarullo was one of the main architects of that.