Donald Trump taps Michelle Bowman as Fed vice-chair for supervision

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Donald Trump taped the Federal Reserve Governor Michel Boman to become a Vice President of the Central Bank of America, the White House official said.

Trump’s move will be welcomed in Wall Street. The best financial institutions in the United States criticized former deputy chairman of the control Michael Bar – Joe Biden’s appointment Michael Barrain, who recently left work.

Bowman, which was initially selected Nurture During his first term of office, the Trump Board was heavily involved in the Central Bank over its own time in the settlement of community banks. He served as a banking commissioner of Kansas before the Fed.

“We need to return to the regulatory approach, which emphasizes the corresponding role of regulatory requirements and control expectations to find more urgent issues,” he said last month at the Kansas conference last month.

“And we need to encourage continuing innovation in banking and financial systems,” he added.

In front of the announcement, Goldman Sachs Chief Executive Officer David Solomon delighted his possible appointment.

“I think that the industry will be excited to see Mickey Boman, and then can help banks move forward, which the bank needs to support the economy.

Boimman on monetary policy is mainly in line with the agreement of the Federal Open Market Federal Open Market Commission, although he wanted the decision of the Central Bank to reduce interest rates on 50 main points last year. He preferred a cut of 25 main points.