Trump to name Michelle Bowman as top bank regulator at Federal Reserve, AP source says

[BumRushDaShow]

Source: AP

Updated 4:54 PM EDT, March 12, 2025


The Trump administration is expected to choose Federal Reserve governor Michelle Bowman to be the central bank’s top financial regulator, according to a person familiar with the decision who spoke on condition of anonymity.

Bowman, who has been a member of the Fed’s governing board for six years, would replace Michael Barr, who stepped down last month. Barr, who was appointed by former President Joe Biden, came under attack from big U.S. banks after proposing that they hold more capital in reserve in a 2023 regulatory reform proposal. Bowman’s appointment was reported earlier Wednesday by Bloomberg News.

Bowman, along with Fed governor Christopher Waller, voted against Barr’s proposal. She was appointed to the Fed’s governing board by President Donald Trump in 2018 during his first term in the White House.

Barr resigned from his post as vice chair for supervision but has remained on the Fed’s seven-member board of governors. As a result, Trump was forced to choose from among the existing seven governors, rather than appointing someone from outside the Fed.

Read more: https://apnews.com/article/federal-reserve-banks-trump-8252ef458f1c922a2282cbe695e28c0a

[Old Crank]

1. Smart move by Barr

At least Trump had to pick from a group of qualified people instead of some simpering ass kissing fool.

[lonely bird]

2. Under fractional reserve banking...

Banks are insolvent. Every bank is insolvent. They are illiquid and when they start selling “assets” the value of those “assets” drops until they are in free fall. Banks then demand or beg the government to backstop them.

[BumRushDaShow]

3. And if you add crypto into that mix

look out!

[Gimpyknee]

4. I'm surprised

that the organge genius didn’t nominate Michele Bachmann to fill this position.