Reported 1 day ago
Michael Barr, the Federal Reserve's vice chair for supervision, has stated he will not resign before his term ends, even if President-elect Donald Trump attempts to remove him. This stance aligns with Fed Chair Jerome Powell's previous comments about serving fixed terms. Both Barr and Powell face scrutiny following Trump's election, with discussions about Trump's potential ability to demote Barr amid ongoing tensions with the banking industry over new capital rules.
Source: YAHOO