Michelle Bowman will be the new Federal Reserve Vice-Chair For Supervision

Current Federal Reserve Board Governor Michelle Bowman

Financial Times with the report. Bowman will replace Michael Barr:

• Fed's Barr will resign from banking supervision role

Bowman was a notable dissent to the FOMC 50bp rate cut back in September 2024:

• Fed's Bowman explains dissent. Says she would have preferred a smaller rate cut