TechFlow, May 6 — According to Jinshi Data, the U.S. Senate Banking Committee advanced the nomination of Michelle Bowman to serve as the Federal Reserve's vice chair for supervision, bringing her one step closer to a final confirmation vote. Compared to Barr, who resigned from the position earlier this year, Bowman is expected to support looser bank regulations. She has frequently advocated for "tailored" regulation and sharply criticized a proposal that would require many banks to significantly increase capital holdings to buffer against losses.
She also stated that regulators should better coordinate goals across the financial system. Earlier this year, U.S. Treasury Secretary Bessent invited Bowman and other banking regulators to a private meeting aimed at streamlining regulation.
