Biden taps Wall Street critic Saule Omarova for key banking regulation post

She has called for the Federal Reserve to offer consumer bank accounts, appealing in an academic paper last year to “effectively end banking as we know it.” In that piece, she endorsed an “overtly radical reform” of the Federal Reserve, saying that the central bank should be remade as “the ultimate public platform for generating, modulating, and allocating financial resources in a modern economy.”