The Wall Street Journal editorial board calls for the removal of Federal Reserve Vice Chair for Supervision Michael Barr. Barr, a favorite of Elizabeth Warren, is criticized for his role in crafting the Dodd-Frank Act and his failure to adequately address the 2023 bank runs despite warnings from subordinates. The editorial argues his focus on regulatory processes over actual financial risk contributed to the problem. The WSJ suggests President Trump could remove Barr before his term ends in July 2026, citing his poor record as justification. The piece highlights Barr's ideological leanings and suggests a replacement, Michelle Bowman, while implying the next President would bear responsibility for any future banking failures under Barr's watch. The core argument centers on Barr's incompetence and ideological bias rendering him unfit for his position.
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