U.S. President Donald Trump nominated Federal Reserve Governor Michelle Bowman to the central bank's top regulatory post as vice chair for supervision where she is expected to oversee an agenda of relaxed rule-writing and bank oversight.

The announcement comes after Michael Barr resigned from his role as the Fed's vice chair for supervision, though he remains a Fed governor. The elevation of Bowman gives Trump som

If confirmed, she is likely to usher in a more hands-off approach to financial regulation than her predecessor’s.