Michael Barr to step down as the Fed’s head of banking supervision to avoid clash with Trump
- Michael Barr will resign as Vice Chair for Supervision of the Federal Reserve on February 28, avoiding a potential conflict with the incoming Trump administration.
- Barr will remain on the Federal Reserve's Board of Governors, as his term lasts until 2032.
- Barr proposed stricter rules for large banks, which faced significant opposition from the banking industry and Senate Republicans.
- Senator Tim Scott criticized Barr's proposed regulations as 'disastrous,' indicating a shift towards more bank-friendly policies under Trump.
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Total News Sources0
Leaning Left10Leaning Right8Center18Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 28%
C 50%
R 22%
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