Streamlining Federal Government
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Fed's Bowman moves to reduce bank-supervision unit by about 30%, Bloomberg News reports
Yahoo Finance· 2025-10-30 20:02
Group 1 - The U.S. Federal Reserve plans to reorganize its supervision and regulation division, reducing staff by approximately 30% [1][2] - The expected headcount will decrease to around 350 employees by year-end 2026, down from nearly 500 [2] - This reduction will occur through attrition, retirements, and voluntary separation incentives [1] Group 2 - Earlier in the year, the Fed announced a broader plan to shrink its workforce by about 10% over the coming years [3] - This initiative aligns with President Donald Trump's efforts to streamline the federal government [3] - The Fed's leadership has been directed to find incremental ways to reduce operations, targeting a total headcount reduction from approximately 24,000 nationwide [3] Group 3 - The reorganization coincides with adjustments to the supervisory framework for large banks [4]