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Federal Reserve Board announces Michael S. Barr will step down from his position as Federal Reserve Board Vice Chair for Supervision
The Federal Reserve Board announced on Monday that Michael S. Barr will step down from his position as Federal Reserve Board Vice Chair for Supervision, effective February 28, 2025, or such earlier time as a successor is confirmed. Barr will continue to serve as a member of the Federal Reserve Board of Governors. Barr, who has served as vice chair for supervision since July 19, 2022, submitted his letter of resignation to President Joseph R. Biden. "It has been an honor and a privilege to serve as the Federal Reserve Board's vice chair for supervision, and to work with colleagues to help maintain the stability and ... (full story)
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Michael Barr to step down as the Fed’s head of banking supervision to avoid clash with Trump
The Federal Reserve’s top banking regulator will be stepping down next month, paving the way for President-elect Donald Trump to name a replacement and heading off a potential confrontation between the two. There had been speculation that Trump might replace Barr after he takes office Jan. 20, the announcement will ease that transition amid speculation that the new president wants someone who is more bank-friendly to take the role. Barr’s resignation from the position, which is the called the vice chair for supervision, as of Feb. 28, though he will stay on as a governor on the Fed board. “It has been an honor ... (full story)