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US Fed nominee prepared to submit rules to OMB for approval

By Neil Roland ( April 10, 2025, 21:49 GMT | Insight) -- Michelle Bowman, President Donald Trump’s nominee as the US Federal Reserve’s top banking regulator, said she agrees with a White House executive order requiring the Fed for the first time to submit rules to the Office of Management and Budget for approval. In a protracted, contentious exchange with Democratic Senator Jack Reed at her confirmation hearing today, the Republican Fed Governor conceded that the central bank is meant to operate independently.Michelle Bowman, President Donald Trump’s nominee as the US Federal Reserve’s top banking regulator, said she agrees with a White House executive order requiring the Fed for the first time to submit rules to the Office of Management and Budget for approval....

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