Federal Reserve Vice Chair, Michael Barr, has opted to step down early to dodge what could have become a contentious legal fight with President-elect Donald Trump. Confirming a Reuters report on Monday, the Democrat appointee suggested that while he could likely win the battle to finish his term, the fight would be "deeply unpleasant." Banks and investors will be hoping his departure may now pave the way for regulatory changes, aligning with Trump's intentions to relax financial oversight. Stock prices climbed following the news, yet consumer advocates voiced concerns that the incoming administration might roll back critical protections which have shielded Americans from irresponsible banking practices for years.
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