President Trump announced plans to nominate Federal Reserve Governor Michelle Bowman as the new top financial regulator, giving her a promotion and elevating a community banking expert who was first appointed during his last term. The move is seen as a shift towards a more restrained approach to regulation, which may benefit the industry.
Bowman, a key figure in the Fed’s hawkish wing on monetary policy, has expressed concerns about over-regulation and the need for a more pragmatic approach. She will oversee financial stability if confirmed by the Senate as vice-chair for supervision. Trump praised Bowman’s experience and “know-how,” calling her the best candidate to tackle the country’s economic challenges.
The nomination is seen as a solution to a problem created by Vice-Chair Michael Barr, who stepped down but did not resign from his governor position. Republicans on Capitol Hill had urged Trump to fill the vacant vice-chair role, with Bowman emerging as a logical choice. The move also highlights Bowman’s willingness to speak publicly, having given more speeches than any other governor last year.
The nomination comes at a time when Radio Free Europe/Radio Liberty is suing the Trump administration over its decision to terminate federal funding for the news organization. The lawsuit alleges that Congress has explicitly directed funds to support RFE/RL in the form of annual grants.
Source: https://www.axios.com/2025/03/17/trump-federal-reserve-bowman