Federal Reserve Board Gov. Michelle W. Bowman was sworn in Monday as the board’s vice chair for supervision, with Fed Chair Jerome H. (“Jay”) Powell administering the oath of office, the Fed announced.
Bowman was nominated to the post in March and confirmed by the Senate June 4. Her term as vice chair for supervision continues to June 9, 2029. Her term on the Fed Board continues to Jan. 31, 2034.
Bowman on June 6 discussed her key principles as the Fed’s new top supervisor during a speech before Georgetown University McDonough School of Business Psaros Center for Financial Markets and Policy in Washington, D.C. She said she would apply those key principles – pragmatism, analysis and cost effectiveness – across four areas: reforming the capital framework; enhancing supervision; reviewing regulations and information collections; and seeking transparency, predictability, and fairness in consideration applications by banks for de novo charters, mergers “or any other application for bank regulatory approval.”
A former Kansas bank commissioner and former banker, Bowman joined the Fed Board in 2018 to serve an unexpired term and was reappointed in January 2020.
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