Ahead of Donald Trump taking office, Federal Reserve's top banking regulator has resigned from his role as vice chair of supervision.
Michael Barr’s sudden decision to step down as the Federal Reserve’s vice chair for supervision has just confirmed what everyone already saw coming: a full-blown clash between Donald Trump and the Federal Reserve.
Michael Barr, the vice chair for supervision at the Federal Reserve, said he will leave his post in February, giving President Donald Trump a chance to fill one of the top positions on the powerful central bank.
Lobbying by banks helped torpedo a major proposal, and a top regulator announced this week that he would step down from a leadership role.
Michael Barr is out. The Federal Reserve’s Vice Chair for Supervision has announced he’s stepping down from the top regulatory job, effective February 28. The timing is unmistakably strategic. President Donald Trump,
Fed's Christopher Waller signaled that he supports cutting interest rates, despite high inflation and Trump's tariff concerns.
Investors absorbed a report that President-elect Donald Trump is considering declaring a national economic emergency to pave the way for proposed tariffs.
Donald Trump tariff plans and Fed policies raise questions on their impact on global trade, inflation, and the cryptocurrency market in 2025.
Logical, but not perfect. The Wall Street Journal pointed out that a Cliffs-U.S. Steel combination "would control 100% of U.S. blast furnace production, 100% of domestic steel used in electric-vehicle motors, and 65% to 90% of other domestic steel used in vehicles."
The Bank of Canada’s policy rate currently sits at 3.25 per cent, after two consecutive half point cuts in October and December of last year. The rate now sits at the upper band of the central bank’s neutral range, with economists predicting it will have more room to fall to below two per cent, if Trump follows through on his tariff threats.
The US dollar charged ahead on Thursday (Jan 9), underpinned by rising Treasury yields, putting the yen, sterling and euro under pressure near multi-month lows amid the shifting threat of tariffs. Read more at The Business Times.