US Federal Reserve Governor Michelle Bowman attends a “Fed Listens” event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019.
Eric Baradat | AFP | Getty Images
President Donald Trump announced Monday he has chosen Federal Reserve Governor Michelle Bowman to take over the central bank’s top supervisory role.
The announcement comes after Michael Barr resigned from his role as the Fed’s vice chair for supervision, though he remains a Fed governor.
The elevation of Bowman gives Trump someone seen as more friendly to the banking industry in the top oversight role at the Fed. Bowman, a former bank executive and state regulator in Kansas, first joined the central bank during Trump’s first term.
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