US Fed’s top banking regulator says he will step down early

Quick Summary:

Mr Michael Barr, the Fed’s vice-chairman for banking supervision, will step down from his management role by Feb 28 at the latest.

His successor must be officially nominated by Trump after he takes office on Jan 20, and then confirmed by the Republican-controlled US Senate.

Mr Michael Barr is stepping down around 18 months before his term was set to expire in July, 2026.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Regulation Michael Role Term Supervision Governor Resignation Banking Barr Trump Committee

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-07 @ 03:15:26 (1 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24933717

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

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