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Michael Barr has resigned from his position as Vice Chair for Supervision at the Federal Reserve. His resignation comes ahead of an anticipated audit by the Department of Government Efficiency (DOGE), as reported by POLITICO. The audit is expected to scrutinize the Federal Reserve's staffing, which currently totals around 24,000 employees. Barr's departure has sparked discussions about potential appointments to his role, with suggestions that former President Donald Trump could nominate a MAGA Republican to take over, aiming to address inflation concerns.
🚨🇺🇸 BREAKING: FED VICE CHAIR MICHAEL BARR RESIGNS AHEAD OF EXPECTED AUDIT Federal Reserve Vice Chair for Supervision Michael Barr has stepped down just as the Department of the Treasury’s Office of Inspector General (DOGE) prepares to launch an audit. His resignation raises… https://t.co/frlLVRAJ1V
JUST IN: Michael Barr, Federal Reserve’s Vice Chair for Supervision, steps down before anticipated DOGE audit, according to POLITICO. https://t.co/gVeJ1LeXtg
BREAKING: Federal Reserve’s Vice Chair for Supervision, Michael Barr, has resigned ahead of expected audit by DOGE, per POLITICO.
