U.S. President Donald Trump intends to nominate Michelle Bowman for the role of Federal Reserve vice chair for supervision. This nomination seeks to replace Michael Barr, who recently resigned to avoid potential legal conflicts with Trump’s administration.
Bowman, an advocate for reducing stringent banking regulations, has been serving on the Fed board since 2018. She aims to implement lighter regulatory measures compared to her predecessor, Michael Barr.
Bowman opposes the Basel III Endgame rule and is advocating for reforms in the Federal Reserve’s stress tests for large banks, seeking greater transparency and predictability in evaluations.
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