The Federal Reserve’s top supervisory official on Monday said he would step down from his position, avoiding a potential legal fight with the incoming Trump administration.
Vice Chair for Supervision Michael Barr, the agency’s top banking regulator, said he would resign from his position at the end of February, or sooner if President-elect Donald Trump appoints a successor. Barr will continue to serve on the Fed’s board of governors. His term in that role extends until January 2032.
