Was it fair for Sen. Elizabeth Warren to call for firing of Fed Vice Chair for Supervision Quarles over Archegos losses? (Premium)

At a Senate hearing yesterday, Senator Elizabeth Warren called for the White House to replace Fed Vice Chair for Supervision Randal Quarles when his term expires in five months. The cause is a failure to supervise Credit Suisse over Archegos losses. Is the Fed actually responsible for failed supervision, and is Quarles to blame?
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