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The American Prospect

The American Prospect

Michael Barr Hands the Fed’s Financial Regulation Powers to Trump

The American Prospect
Summary
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67% Informative

Federal Reserve's vice chair of supervision, Michael Barr , has decided to step down rather than fight with President-elect Trump .

This is a great gift to Trump , writes Julian Zelizer .

Zelizer: The Fed announced this week he will step down from this supervisorial role by February 28 .

Barr 's critics say it's better for the actual functioning of the Fed to be gravely harmed under cover of darkness than to mount a controversial fight in public to preserve that functioning.

Countries with a recent experience of dictatorship, like South Korea , tend to be a lot more sensible about what to do when a would-be dictator attempts to seize power.

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