Odaily Planet Daily News - Michael Barr, the Federal Reserve's top regulatory official, announced on Monday that he will resign in the coming weeks, clearing the way for President Trump to reshape federal banking regulation. Barr has served as the Vice Chair for Supervision at the Federal Reserve since 2022; he stated that he would resign on or before February 28 if his successor is confirmed. He indicated that he will continue to serve as a member of the Federal Reserve Board. Barr has been discussing his options with external legal advisors, and his resignation will avoid a major legal battle. Barr's term as Vice Chair for Supervision was originally set to end in 2026. However, some Republicans and allies of Trump have proposed a legally contentious plan to attempt to remove or downgrade him, making it easier for Trump to implement his financial regulatory agenda. Barr said in a statement, 'The risk of disputes in this position could distract us from our mission.'