According to Odaily, advisors to U.S. President-elect Donald Trump are contemplating changes to the leadership of the Federal Reserve. This includes the potential appointment of Fed Governor Michelle Bowman as the next Vice Chair for Supervision. This consideration follows Michael Barr's announcement on Monday that he will step down from the Vice Chair for Supervision role while retaining his position on the Federal Reserve Board.
In addition, Trump's advisors have begun drafting a list of potential successors to current Fed Chair Jerome Powell, whose term is set to expire in May 2026. Although Trump appointed Powell during his first term, he has frequently expressed dissatisfaction with the decision.
The list of candidates being considered to replace Powell reportedly includes Kevin Hassett, who is set to become the Director of the White House National Economic Council, former Bush administration officials Larry Lindsey and Mark Sumerlin, former World Bank President David Malpass, former Federal Reserve official Kevin Warsh, and Michelle Bowman.