The Federal Reserve's top financial regulator announced his resignation, opting to step down before a potential clash with the incoming Trump administration and Republican senators. The official stated his intention to leave his position as vice chair of supervision by February 28th, or sooner if a successor was confirmed. However, he clarified that he would remain on the Fed's board of governors.
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During last year’s presidential campaign, there were published reports that former president Donald Trump would try to fire or demote Barr. But at a press conference in November, Fed Chair Jerome Powell said a president didn’t have the legal authority to do either one.
FED POLITICS TRUMP REGULATION RESIGNATION
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