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US Fed nominee to testify as Congress eyes impact of Trump tariffs on bank capital

By Neil Roland ( April 8, 2025, 16:21 GMT | Comment) -- When Michelle Bowman, the nominee to be the US Federal Reserve’s top regulator, appears before the Senate Banking Committee for her Thursday confirmation hearing, she will surely be asked about the impact on bank capital of the market chaos caused by US President Donald Trump’s trade war. Republican Fed Governor Bowman probably won’t be able to offer a precise, up-to-date answer yet because of a paucity of data. But she will likely say large US banks are still strong — based in part on Fed stress tests — while still offering a critique of the way those tests assess bank capital. She has called the process "less fair, transparent and useful" than it should be.When Michelle Bowman, the nominee to be the US Federal Reserve’s top regulator, appears before the Senate Banking Committee for her Thursday confirmation hearing, she will surely be asked about the impact on bank capital of the market chaos caused by US President Donald Trump’s trade war....

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