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Trump picks Fed Governor Michelle Bowman to replace Michael Barr as Fed's supervision head

  • President Donald Trump nominated Federal Reserve Governor Michelle Bowman to replace Michael Barr as vice chair for supervision, expecting Bowman to support relaxed regulations for banks.
  • Bowman has criticized previous regulatory efforts and argued for reducing capital burdens.
  • Her nomination received praise from the banking industry and Rob Nichols from the American Bankers Association, who commended her sensible approach to regulatory policy.
  • If confirmed, Bowman will oversee large banks and implement significant changes to the Fed's stress tests for banks.
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  • 41% of the sources are Center
41% Center
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Bloomberg broke the news in United States on Monday, March 17, 2025.
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