Bowman Sworn into Fed

Former Kansas Bank Commissioner Michelle Bowman was sworn-in Monday to serve on the Federal Reserve Board. Bowman is the first Fed governor to fill a spot designated for someone with community banking experience.

In her formal statement before the Senate Banking Committee in June, Bowman voiced support for reducing the regulatory burden on community-based financial institutions by better tailoring regulations.

President Trump nominated Bowman to fill an unexpired term ending on January 31, 2020. She was confirmed by the U. S. Senate on November 15.

The Fed still has two vacancies on its seven-member board. Marvin Goodfriend's nomination is pending before the Senate. Nellie Liang, a former Fed research economist, has also been nominated to serve on the board, but has yet to receive a hearing from the Senate Banking Committee.