U.S. President Donald Trump has nominated Michelle Bowman to serve as the Vice Chair of the Federal Reserve for bank supervision.
This marks Trump’s first appointment to the Fed in his second term. In a statement shared on his Truth Social platform, Trump praised Bowman’s qualifications, saying, “Our economy has been mismanaged over the past four years, and it’s time for a change. Miki has the ‘know-how’ to make it happen.”
Bowman’s nomination fills the vacancy left by Michael Barr, who resigned in January. If confirmed by the U.S. Senate, Bowman would make history as the first woman to hold the position of Vice Chair of the Federal Reserve for supervision.
The appointment comes at a time when the U.S. Federal Reserve faces significant challenges in overseeing the nation’s banking system, and Bowman’s leadership could play a crucial role in shaping the future of U.S. financial regulation.