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 >
U.S. weekly new jobless claims drop to 6-week low
U.S. weekly new jobless claims drop to 6-week low
Jul 3, 2025
(Reuters) -The number of Americans filing new applications for jobless benefits fell to a six-week low last week, but the ranks of those continuing to collect benefits after their initial week held steady at the highest in nearly four years in the prior week. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 233,000 - the lowest...
Traders pare bets on Fed rate cuts after jobs report
Traders pare bets on Fed rate cuts after jobs report
Jul 3, 2025
(Reuters) -A still-strong job market will keep the Federal Reserve from cutting interest rates until September, and from delivering more than two quarter-point rate cuts all year, traders bet on Thursday Futures contracts tied to the U.S. central bank's policy rate indicated just a 5% chance of a Fed rate cut in July, down from 25% before a Labor Department...
US job growth expected to slow in June, unemployment rate forecast to rise
US job growth expected to slow in June, unemployment rate forecast to rise
Jul 2, 2025
WASHINGTON (Reuters) -The U.S. labor market likely slowed further in June, with the unemployment rate expected to have edged up to more than a 3-1/2-year high of 4.3%, as economic uncertainty stemming from the Trump administration's policies curbed hiring.     The anticipated moderation in job growth will probably be insufficient to spur the Federal Reserve to resume its interest rate cuts...
Dollar Supremacy Under Threat Despite A Slowing China? 'Absolutely,' Says This Economist — Beijing Is The Largest Trading Partner For Half The World And They've 'Arrived'
Dollar Supremacy Under Threat Despite A Slowing China? 'Absolutely,' Says This Economist — Beijing Is The Largest Trading Partner For Half The World And They've 'Arrived'
Jul 2, 2025
Despite the economic downturn in China, former IMF Chief Economist Kenneth Rogoff believes the country's push to undermine the U.S. dollar's global dominance remains firmly on track. What Happened: On Wednesday, Rogoff replied “absolutely” when asked about China gaining traction in challenging the dollar’s supremacy, despite a slowing domestic economy, while speaking on The Call, a podcast by the U.S....
Copyright 2023-2025 - www.financetom.com All Rights Reserved