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International Business Times

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Carla St. Louis

Federal Reserve Vice Chair Resigns Amid Looming Trump Tariffs, Experts Predicting Long-Term Inflation

Michael S Barr Donald Trump Inflation the Federal Reserve US Federal Reserve

Federal Reserve Board Vice Chair for Supervision Michael S. Barr speaks during a hearing with the Senate Banking Committee on Capitol Hill on May 18, 2023 in Washington, DC. (Credit: Anna Moneymaker/Getty Images)

Michael S. Barr, the Federal Reserve Board Vice Chair for Supervision, will step down from his role effective February 28, 2025 as incoming President Donald Trump vows to place massive tariffs on foreign goods.

Barr, who held senior roles in the U.S. Treasury has already submitted his letter of resignation to president Joe Biden, according to an announcement from the Federal Reserve.

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One subscription that gives you access to news from hundreds of sites

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