President Trump has nominated Michelle W. Bowman, a Federal Reserve governor, to be the next vice chair for supervision at the central bank. If confirmed, she is likely to lead a more hands-off approach to financial regulation compared to her predecessor.
Bowman, who was appointed by Mr. Trump in 2018, has been seen as a top contender for the position since Michael S. Barr stepped down last month. Her appointment was made possible because Barr remained on as a governor until his term expires in 2032.
As a former state bank commissioner of Kansas and advocate for less regulatory oversight, Bowman has expressed her views against stricter oversight of Wall Street. She voted against increasing capital requirements for lenders such as JPMorgan Chase and Goldman Sachs, which received opposition from the biggest banks and industry lobbyists.
Bowman’s stance on monetary policy has also become more prominent since she dissented in September when the central bank decided on a larger interest rate cut. She warned that further cuts could hinder price stability and expressed her support for cautioning against additional rate cuts until inflation is back to its 2% goal.
If confirmed, Bowman will likely continue this hands-off approach to financial regulation, differing from her predecessor’s more strict oversight.
Source: https://www.nytimes.com/2025/03/12/business/michelle-bowman-federal-reserve-vice-chair.html