4 sources·Business

Federal Reserve Vice Chair Michael Barr Resigns, Averting Clash with Trump Administration

Michael Barr will resign as vice chair for supervision of the Federal Reserve, paving the way for a Trump-appointed successor amid regulatory tensions.

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Updated: Jan 6th, 2025, 3:29 PM ET

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Michael Barr announced his resignation as vice chair for supervision of the Federal Reserve, effective February 28. This move preempts potential conflict with the incoming Trump administration, which may seek a more lenient regulatory approach. Barr will remain a Fed governor, a position he holds until 2032, limiting Trump's immediate appointments. His resignation comes amid his push for stricter banking regulations, which faced significant opposition from the banking sector. The Fed has paused major rulemaking until a new vice chair for supervision is confirmed.

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