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Keyword: michaelbarr

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  • Michael Barr to step down as the Fed's head of banking supervision to avoid clash with Trump

    01/07/2025 10:47:57 PM PST · by blueplum · 5 replies
    CNBC.com ^ | 06 Jan 2025 | Jeff Cox
    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... Though he did not specifically mention the rumors that Trump would attempt to remove him, Barr said in a statement that "the risk of a dispute over the position could be a distraction from our mission. In the current environment, I've determined that I would be more effective in serving the American people from my role as governor."... Bank stocks rallied following the announcement. ...