On the campaign trail, President-elect Trump endorsed competing ideas on Wall Street reform, citing a desire to roll back Dodd-Frank while also promoting the idea of a “21st Century Glass-Steagall.” Financial regulation expert Aaron Klein notes the importance of Mr. Trump’s appointments as an indication of the administration’s position—specifically at the Federal Reserve—where these reforms will come to life. Klein also discusses coordination across global banks and a potential public-private coalition to support new infrastructure projects.
“In the world of financial regulation, policy is personnel.”
Aaron Klein is an expert on U.S. financial regulation. He has served as director of the Financial Regulatory Reform Initiative at the Bipartisan Policy Center and as deputy assistant secretary for economic policy and coordination at the Treasury Department, where he worked on financial regulatory reform issues including the Dodd-Frank Wall Street Reform and the Consumer Protection Act of 2010. Klein also played a leading role in housing finance reform, transportation and infrastructure policy, and the implementation of TARP. Prior to his appointment in 2009, he served on the staff of the Senate Banking, Housing, and Urban Affairs Committee, including as its chief economist. Klein also led the committee’s economic policy agenda, which included oversight over the Federal Reserve, confirmation hearings for the Council of Economic Advisers, and issues regarding financial literacy. Klein is a graduate of Dartmouth College and Princeton University’s Woodrow Wilson School of Public and International Affairs.