Fed vice chair for supervision is worried that Trump will try to remove him – report
Fed’s Barr
Fed vice chair for supervision Michael Barr is worried. He was appointed in 2022 for a term that lasts until 2032 but is worried that Trump may try to remove him.
Reuters reports that he sought advice from law firm Arnold & Porter.
I’m doubt this is meaningful for markets but it does speak to real worries around Trump and the Fed. It also speaks to how strongly he might feel (or his donors might feel) about bank regulation.
Barr, like Quarles before him, rarely weighs in on monetary policy and almost always focuses on regulation and supervision of banks.
