MNI BRIEF: Trump Names Bowman To Fed VC For Supervision

U.S. President Donald Trump has nominated Federal Reserve Governor Michelle Bowman to the key role of vice chair for banking supervision at the central bank, Bowman said in a statement Monday. 

"I would like to express my thanks to President Trump for nominating me as the Vice Chair for Supervision. I am grateful for the continued faith and confidence he has placed in me to fulfill this vital role," Bowman said in a statement.

"If confirmed, I will promote a safe and sound banking system through a pragmatic approach to supervision and regulation with a transparent and tailored bank regulatory framework that encourages innovation. I will leverage my hands-on experience as a banker, a bank regulator, and a Board Member to address the challenges ahead."