(FILES) Board of Governors of the Federal Reserve Vice Chairman for Supervision Michael Barr testifies during a House Committee on Financial Services Hearing about "Oversight of Prudential Regulators" on Capitol Hill in Washington, DC, on November 15, 2023. The US Federal Reserve's most senior official in charge of banking regulation and supervision said on January 6, 2025, that he will step down early, paving the way for Donald Trump to pick his replacement. Michael Barr, the Fed's vice chair for banking supervision, said in a statement that he will step down from his management role by February 28 at the latest -- around 18 months before his term was set to expire on July 13, 2026. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)