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Powell to reiterate importance of core reforms at confirmation hearing

Federal Reserve Governor Jerome Powell will reiterate to the Senate Banking Committee his intention to ease banks' regulatory burden without sacrificing the "core reforms" of capital and liquidity requirements, stress testing and resolution planning.

The Fed chair nominee, according to prepared remarks for his Nov. 28 confirmation hearing, will also touch on his support for the 12-Reserve Bank structure and his predecessors' push for transparency.

Powell has been touted as a safe successor to Janet Yellen. Though considered more open to reform, he is also unlikely to rock the boat in terms of policy — a characteristic that kept market reactions muted following his nomination.