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. In January, when Barr announced that he

Federal Reserve Board member Michelle Bowman has been nominated as the board's vice chair for supervision, a position that oversees regulation of the nation's largest banks.