The US Senate Committee advances Bauman's nomination for Federal Reserve Regulatory Vice Chairman

BlockBeats News: On May 6th, the US Senate Banking Committee advanced the nomination of Michelle Bowman as Vice Chair of Federal Reserve Regulation, bringing her one step closer to entering the approval vote. Compared to Barr, who resigned from the position earlier this year, Bauman is expected to support looser banking regulation. She often calls for "tailor-made" regulation and sharply criticizes a proposal that requires many banks to significantly increase their capital to buffer losses. She also stated that regulatory agencies should better coordinate the goals of the financial system. Earlier this year, US Treasury Secretary Benson invited Bauman and other banking regulators to a private meeting with the aim of simplifying regulation. (Golden Ten)