Trump to Nominate Michelle Bowman as Top Bank Regulator at Federal Reserve

Donald Trump is anticipated to appoint Federal Reserve Governor Michelle Bowman as the central bank's chief financial regulator. The decision was disclosed by an anonymous source. Bowman will be taking over from Michael Barr, who stepped down due to pushback from major U.S. banks on a 2023 regulatory reform suggestion. Since her selection by Donald Trump in 2018, Bowman has been a member of the Fed's governing board. She will be succeeding Michael Barr, who resigned the previous month.