US EditionTop Federal Reserve Official Promises Major Overhaul of US Bank Regulation
- Michelle Bowman was confirmed on April 10, 2025, as the Federal Reserve's Vice Chair for Supervision in Washington, D.C.
- Her confirmation followed Michael Barr's February resignation and a Senate Banking Committee vote along party lines advancing her nomination.
- Bowman plans to ease bank rules, streamline oversight, and reconsider post-2008 regulations, targeting requirements that banks have long criticized.
- She stated, "Our goal should be to make banks safe to fail," and opposed a 19% hike in capital requirements for large banks.
- Her deregulatory agenda has industry support but raises concerns about Fed independence and potential risks of repeated financial instability.
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The Bonfire of the Banking Regulators? | by Willem H. Buiter - Project Syndicate
Despite numerous reforms, the US financial regulation system remains a patchwork of federal and state agencies with overlapping mandates and conflicting objectives. Two new books underscore the need to streamline bureaucracy, simplify regulations, and separate money creation from financial intermediation.
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Total News Sources30
Leaning Left4Leaning Right1Center6Last UpdatedBias Distribution55% Center
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- 55% of the sources are Center
55% Center
L 36%
C 55%
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