Michael Barr, who has served as the Federal Reserve’s vice chair for supervision, has announced that he will resign from his position effective February 28, 2025. This decision will enable the incoming president, Donald Trump, to appoint a new banking regulator earlier than initially expected.
Barr’s original term was supposed to last until 2026, but his unexpected resignation will cut his tenure short by a year. His departure marks an important moment, given the new regulatory direction expected under Trump's leadership.
