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Michael Barr to Leave His Role as Fed Vice Chair for Supervision

6 January 2025
in Business
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Michael Barr to Leave His Role as Fed Vice Chair for Supervision
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Michael Barr is stepping down from his position as the Federal Reserve’s vice chair for supervision by Feb. 28, potentially to avoid a legal battle with President-elect Donald J. Trump’s administration over his removal. Barr will remain on the Board of Governors, but his departure may stall bank regulatory actions until a successor is appointed, impacting the Fed’s independence and oversight of the financial system. Barr’s decision comes after facing criticism for overseeing a proposal to increase bank capital requirements, and speculation arises on the future of regulatory rules under a Trump administration.

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