Michael Barr defended the Federal Reserve’s independence and oversight role Thursday, two days after the White House issued an executive order that could exert greater control over the central bank’s supervision of financial institutions.
A sweeping executive order issued by President Donald Trump on Feb. 18 aims to bring the nation’s independent financial regulators under White House oversight, marking a shift in how the agencies have operated since their inception.
The White House is tightening its control over how the Federal Reserve regulates big banks as part of a new executive order that gives President Donald Trump's appointees more power over independent agencies.
In a sweeping move to assert greater control over federal regulatory agencies, President Biden issued an executive order on Monday mandating stricter White House oversight of rulemaking across the executive branch, including so-called independent regulatory agencies.
The order weighing on the federal agency's independence could also have implications on enforcement activity, concerned observers say.
A White House spokesman had no immediate comment ... orders as appropriate and consistent with applicable law,” Federal Reserve Board Chair Jerome H. Powell told reporters late last month.
President Trump signed an executive order Tuesday aiming to expand the White House’s authority over various independent regulatory agencies, a move likely to prompt legal challenges. Trump issued
A new executive order signed by President Donald Trump on Tuesday seeks to give the White House more control ... has been made for the Federal Reserve’s handling of interest-rate policy.
The Trump administration has debuted a “tip line” for financial institutions and the public to report financial regulators who are still doing their jobs despite a White House “stand down” order.
Trump's order specifically exempts the Federal Reserve's Board of Governors ... agencies to submit any new regulations to the White House, set up White House Liaison offices, and "regularly ...
Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged.
The Trump administration has taken another step to centralize the executive branch with a new order that “reins in independent agencies.” | The White House's latest executive order would give the president greater control over federal agencies typically shielded by cross-term leadership appointments and dismissal protections.