U.S. Fed’s Michael Barr to Step Down as Vice Chair for Supervision
Barr will continue to work as a member of the Federal Reserve Board of Governors. Jan 6, 2025, 5:35 p.m. UTCMichael Barr, the U.S. Federal Reserve's vice chair for guidance, will step down from his position on Feb. 28-- or earlier, if a follower is verified-- according to a Monday statement from the Federal Reserve.Barr will continue to act as a member of the Federal Reserve Board of Governors.In a declaration consisted of in the Federal Reserve's statement, Barr recommended that he chose to willingly resign in order to prevent a possible disagreement with the inbound Trump administration."The position of vice chair for guidance was produced after the Global Financial Crisis to produce higher obligation, openness, and responsibility for the Federal Reserve's guidance and policy of the mone...