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Wall Street dodged a bullet when Elizabeth Warren’s campaign for the White House fizzled out. But Warren, a fierce critic of big banks, could still play a forceful role in shaping policy in a potential Biden administration. If Joe Biden wins in November, Warren is the “favorite” to become the nation’s first woman Treasury secretary, according to Cowen Washington Research Group. “We believe Warren would be an especially powerful Treasury secretary with Biden likely delegating to her primary responsibility for financial and economic policy,” Jaret Seiberg, policy analyst at Cowen, wrote in a note to clients on Thursday.

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