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Michael Barr to step down as the Fed's head of banking supervision to avoid clash with Trump

6 January 2025
in World
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Michael Barr to step down as the Fed's head of banking supervision to avoid clash with Trump
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The Federal Reserve’s top banking regulator, Michael Barr, will step down as vice chair for supervision on Feb. 28, remaining as a Fed governor until 2026. His resignation comes amid speculation that President-elect Donald Trump may appoint a replacement who is more bank-friendly, easing potential confrontation. The Fed will not make major decisions on rules and regulations until a successor is named, with Trump having to choose from the current seven board members.

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Tags: AvoidbankingBanksBarrBreaking News: Marketsbusiness newsClashDonald TrumpFed039sMichaelSPDR S&P Bank ETFstepsupervisionTrump
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