Federal Reserve Governor Michelle Bowman confirmed by Senate to central bank's top regulatory post

On June 4, 2025, Federal Reserve Governor Michelle Bowman was confirmed to the central bank's top regulatory post by the U.S. Senate, where she is expected to push an agenda aimed at easing rules for banks.

Bowman, a former community banker who President Donald Trump nominated to the Fed's Vice Chair for Supervision role in March, has served on the Fed's board as a governor since 2018. She was confirmed by a vote of 48 to 46.

When she testified before lawmakers in April, she said current financial rules have grown "overly complicated and redundant" and impose unnecessary costs on banks and their customers. She has vowed to be a "pragmatic" regulator, as the Trump administration has made trimming rules in a bid to boost economic growth a top priority.

When she testified before lawmakers in April, she said current financial rules have grown "overly complicated and redundant" and impose unnecessary costs on banks and their customers.

In her new role, Bowman will lead the Fed's efforts to supervise and write rules for the nation's largest and most complex banks. Currently, all banks are required to hold 3% of their capital against their leverage exposure, which is their assets and other off-balance sheet items like derivatives. The largest global banks must hold an extra 2% as well in what is known as the "enhanced supplementary leverage ratio."