financetom
Economy
financetom
/
Economy
/
Fed's Bowman confirmed by Senate to central bank's top regulatory post
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fed's Bowman confirmed by Senate to central bank's top regulatory post
Jun 4, 2025 4:15 PM

WASHINGTON (Reuters) -Federal Reserve Governor Michelle Bowman was confirmed to the central bank's top regulatory post by the U.S. Senate on Wednesday, where she is expected to push an agenda aimed at easing rules for banks.

Bowman, a former community banker who President Donald Trump nominated to the Fed's Vice Chair for Supervision role in March, has served on the Fed's board as a governor since 2018. She was confirmed by a vote of 48 to 46.

In her new role, Bowman will lead the Fed's efforts to supervise and write rules for the nation's largest and most complex banks. That is expected to include easing leverage rules for large banks, making the annual "stress test" of big banks more transparent, and rolling out simpler capital rules for large firms, according to analysts.

When she testified before lawmakers in April, she said current financial rules have grown "overly complicated and redundant" and impose unnecessary costs on banks and their customers. She has vowed to be a "pragmatic" regulator, as the Trump administration has made trimming rules in a bid to boost economic growth a top priority.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US manufacturing output rebounds in August
US manufacturing output rebounds in August
Sep 17, 2024
WASHINGTON (Reuters) - Production at U.S. factories surged in August amid a rebound in motor vehicle output, but data for the prior month was revised lower, suggesting that manufacturing continued to tread water. Factory output increased 0.9% last month after a downwardly revised 0.7% drop in July, the Federal Reserve said on Tuesday. Economists polled by Reuters had forecast factory...
US retail sales unexpectedly rise in August
US retail sales unexpectedly rise in August
Sep 17, 2024
WASHINGTON (Reuters) - U.S. retail sales unexpectedly rose in August, suggesting that the economy remained on a solid footing through much of the third quarter. Retail sales increased 0.1% last month after an upwardly revised 1.1% surge in July, the Commerce Department's Census Bureau said on Tuesday. Economists polled by Reuters had forecast retail sales, which are mostly goods and...
US House Republicans aim for Wednesday vote on stopgap funding bill
US House Republicans aim for Wednesday vote on stopgap funding bill
Sep 17, 2024
WASHINGTON (Reuters) - Republican U.S. House Speaker Mike Johnson intends to hold a Wednesday vote on a six-month stopgap federal funding measure, Punchbowl News reported on Tuesday, citing unnamed sources. U.S. government funding expires on Sept. 30. ...
D.A. Davidson Not Ruling Out 50-Basis-Point Fed Rate Cut on Wednesday
D.A. Davidson Not Ruling Out 50-Basis-Point Fed Rate Cut on Wednesday
Sep 17, 2024
09:53 AM EDT, 09/17/2024 (MT Newswires) -- D.A. Davidson said it is not ruling out a 50-basis-point policy rate cut from the Federal Reserve on Wednesday, although the central bank is widely anticipated to announce a 25-basis-point cut. We also believe Fed commentary will indicate continued cuts are likely at subsequent meetings (two additional Fed meetings in 2024, November and...
Copyright 2023-2025 - www.financetom.com All Rights Reserved