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

Michael Barr, the Federal Reserve’s top banking regulator, will resign as vice chair for supervision effective February 28, allowing President-elect Donald Trump to appoint a replacement.

Barr, who will remain a Fed governor until 2026, said his decision was made to avoid distractions from the Fed’s mission.

His resignation comes amid speculation that Trump may seek a more bank-friendly replacement.

Bank stocks rose following the announcement, and the Fed indicated it would delay major regulatory decisions until a successor is named, CNBC News has reported.

read more: https://www.cnbc.com/2025/01/06/michael-barr-to-step-down-as-the-feds-head-of-banking-supervision-avoiding-clash-with-trump.html

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