Michael Barr resigns as Fed's head of banking supervision to avoid conflict with Trump

From CNBC: 2025-01-06 14:16:42

Federal Reserve’s top banking regulator, Michael Barr, to step down in February, easing transition for President-elect Donald Trump. Speculation rose that Trump may replace Barr with someone more bank-friendly. Barr’s resignation effective Feb. 28, will remain a Fed governor until 2026. Bank stocks rallied after the announcement, signaling market approval.

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