Fed governor questions Barr’s regulatory agenda

Republican governor Bowman delivers “shot across the bow” to new vice-chair

Michelle Bowman
Michelle Bowman, Federal Reserve Board
Photo: Ann Saphir/Reuters/Alamy

A Republican Federal Reserve Board governor has sent “a shot across the bow” to the new vice-chair for supervision Michael Barr, according to progressive sources.

Michelle Bowman criticised policies that market participants expect to find favour under Barr, including increases to capital requirements for large US banks, tougher bank merger policy and new resolution requirements for regional banks.

“We sometimes overlook the significant costs to our economy, and risks to safety and soundness

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