The decision to stay the course with Powell was received positively, as both Powell and new vice-chair Lael Brainard are seen as relatively dovish.
The new buffer will use the results from the Fed's stress tests to help determine banks' capital requirements.
The Board of Governors voted 4-1 in favor of the changes, with the dissenter saying they would weaken core safeguards.
The central bank will develop the FedNow service itself rather than defer to the private sector.
If the Fed is going to conduct monetary policy by manipulating asset prices, it should expect to see periods of extreme market volatility.
