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Fed Banking Chief Michael Barr Announces Departure Ahead of Trump Arrival
- Michael Barr, the Federal Reserve’s vice chair for supervision, will step down in late February.
- The announcement comes two weeks before President-elect Donald Trump takes office.
- The Fed does not plan to tackle major rulemakings until Barr’s successor is confirmed.
- Barr's role included working with other regulators to ensure the strength of the banking system.
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