巴尔在声明中未明确提及有关特朗普计划撤换他的传闻，但表示：“关于这一职位的争议可能会分散我们的使命。在当前环境下，我认为继续担任理事角色将更能有效地服务于美国人民。”Michael Barr, the Vice Chair of the Federal Reserve responsible for bank supervision, will resign from this position on February 28.
According to the Zhitong Finance APP, Michael Barr, the Vice Chair of the Federal Reserve responsible for bank supervision, will resign from this position on February 28, clearing the way for the successor appointed by former President Trump while avoiding potential conflicts between the two.
Although Barr will step down from the position of Vice Chair for supervision, he will continue to serve as a Federal Reserve Board member, with his term extending to 2026. Barr's resignation announcement has sparked speculation that Trump might attempt to replace him after taking office on January 20, a decision seen as helping to ease tensions during this transition period.
In his statement, Barr did not explicitly mention the rumors regarding Trump's plan to replace him but stated: "Controversies regarding this position may distract from our mission. In the current environment, I believe continuing to serve in the role of governor will better serve the American people."
He added: "It is my honor and privilege to serve as the Vice Chair of the Federal Reserve (supervision) and to work alongside colleagues to maintain the stability and strength of the American financial system to meet the needs of American families and businesses."
Following the announcement, bank stocks generally rose. The SPDR S&P Banks ETF, which tracks leading banking firms, rose by more than 1%.
The Federal Reserve stated in a statement that no major decisions on rules and regulations will be made before the new Vice Chair takes office. Currently, the banking industry is undergoing a revision of a new set of rules, known as the Basel Endgame, which is highly controversial in the industry.
Due to the limit of seven members on the Federal Reserve Board, Trump will need to choose a successor from the current members to fill this position.
The position of Vice Chairman (Regulation) was established after the financial crisis in 2008, when several major financial institutions on Wall Street collapsed. During Barr's tenure, the banking industry experienced a crisis in early 2023, with several banks, including Silicon Valley Bank, failing, which forced the Federal Reserve to establish liquidity tools to prevent the crisis from spreading.
Recently, rumors have been rampant that Trump may force Barr to step down. According to a Reuters report from December 2023, Barr had consulted legal options regarding potential actions Trump might take. Trump's team has not commented on this news.
