Trump chooses Federal Reserve Governor Michelle Bowman to replace Michael Bar as president of the Federal Reserve

president Donald Trump He announced on Monday that he chose Federal Reserve Governor Michel Bowman to take over the main supervision role of the Central Bank.

This announcement comes after Michael Bar Resign As the Vice -President of the Federal Reserve for Supervision, although he is still the ruler of the Federal Reserve.

In January, when Bar announced that he would step down, he said in a statement that “the risk of a conflict over this position may be a distraction from our mission. In the current environment, I decided that I would be more effective in serving the American people than a league as a ruler.”

Buman Trump’s height gives a person seen as more friendly to the banking industry in the highest supervision role of the Federal Reserve. Bowman, a former bank executive and state organizer in Kansas, joined the central bank during the first period of Trump. Bowman is expected to take a lighter approach to organizing small banks in particular.

Trump said in a Spread the social truth. “Mickey has been honoring the Board of Directors of the Federal Reserve Council since 2018, and has great experience in dealing with inflation, organization and banking services. Our economy has been misunderstood over the past four years, and it is time to change. Mickey has” knowledge “to accomplish it.

Buman is playing a role in the presidency fueled by Jerome Powell, who is not a fan of her. During the Congress certificate in February, Powell said he believed the creation of the Vice President for Supervision had created “fluctuations” for the Central Bank. The situation was presented as part of the 2008 financial reforms.

Banking shares have surpassed the broader market since Trump’s election, most likely due to the expectations of the lighter organization in this sector. Since November 5, Financial Select Sector SPDR FUND (XLF) It rises 5.1 %, compared to a decrease of approximately 2 % for S & P 500.

As a ruler of the Federal Reserve, Bowman is also part of the Federal Open Market Committee, which determines the standard interest rate of the Central Bank. The committee is scheduled to be held on Tuesday and Wednesday of this week, although it is expected to maintain a wide scale in this meeting.