The Fed's Michelle Bowman is moving to roll back what she views as regulatory excess pertaining to banks

Core Insights - The central bank's vice chair for supervision, Michelle Bowman, is implementing significant staff reductions and regulatory changes, which are contributing to increased tension within the Federal Reserve [1] Group 1 - Michelle Bowman is slashing staff at the Federal Reserve, indicating a shift in operational strategy [1] - Changes in rules are being introduced alongside staff reductions, suggesting a comprehensive overhaul of existing practices [1] - The actions taken by Bowman are adding to the existing tension within the Federal Reserve, highlighting potential internal conflicts [1]