The US Senate confirms Bowman as the vice chair for Federal Reserve supervision, indicating that the US government will relax regulations.

The US Senate confirmed Federal Reserve Governor Michelle Bowman as Vice Chair of Supervision on Wednesday, further indicating a shift towards relaxation in regulation under the leadership of President Trump. Bowman, a fifth-generation banker and Republican, has long emphasized the need for more "tailored" regulation in her speeches. She hinted at significant changes in regulatory focus, and her relationship with the banking industry is said to be more friendly than her predecessor Michael Barr. Barr resigned earlier this year. Bowman often disagreed with Barr on issues such as bank regulation, stress test reform, and capital rules.