Fed’s Barr to resign early from regulatory post

01/06/2025

Less than a minute

2025.01.06 11:31

WASHINGTON (Reuters) – The Federal Reserve’s top regulatory official announced Monday he plans to step down from that post effective February 28.

© Reuters. FILE PHOTO: Federal Reserve Board Vice Chair for Supervision, Michael Barr, testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, U.S., May 18, 2023. REUTERS/Evelyn Hockstein/File Photo

Fed Vice Chair for Supervision Michael Barr said in a statement he was stepping down from the role early, but planned to remain on the Fed board as a governor. The central bank said in a statement it would take up no major rulemakings until a successor to the regulatory role is confirmed.

Barr, a Democrat, was facing a potentially messy legal dispute with President-elect Donald Trump, who may have tried to remove him from the post before his term expired in July 2026.

01/06/2025

Less than a minute

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