US Federal Reserve Vice Chair for Supervision Jay Powell will remain at the helm despite Jay Barr’s early resignation. Barr announced his decision not to seek reappointment due to concerns over a potential legal fight with former President Donald Trump.
Barr, who is set to step down on February 28, cited the need to avoid entanglement in future disputes as a reason for his departure. His move limits Trump’s options for naming a new bank regulator, potentially complicating efforts to fill the vacant role.
The decision also leaves Powell in control of the Federal Reserve’s supervision committee, which oversees banks and other financial institutions.
Source: https://www.reuters.com/world/us/feds-barr-resign-early-regulatory-post-2025-01-06