Fed's Bowman emerging as 'likely choice' to become top US banking cop: Analysts

Published On Jan 7, 2025, 11:59 AM

Analysts are noting that Michelle Bowman is emerging as the likely candidate for the Federal Reserve's top banking regulator role after Michael Barr's unexpected departure. Bowman's previous role as a state banking commissioner and her tenure on the Federal Reserve board make her a strong contender. She has expressed reservations about proposed capital rules which banks argue would harm their operations significantly, hinting at a potential shift in regulatory direction if she is appointed. Analysts suggest that Bowman's perspective could lead to different regulatory outcomes compared to the previous leadership.