Federal Reserve’s Top Banking Regulator Michael Barr to Step Down

Michael Barr, the Federal Reserve‘s top banking regulator, announced he will step down from his role as vice chair for supervision next month, paving the way for President-elect Donald Trump to appoint a replacement. Barr’s resignation, effective February 28, comes amid speculation that Trump sought a more bank-friendly figure in the role.

Barr, who will remain a governor on the Federal Reserve Board until his term ends in 2026, stated that his decision was aimed at avoiding potential conflicts during the transition.