Michael Barr

Federal Reserve Governor Michael Barr criticized moves from regulators over the past year to relax the rules for U.S.

lenders, saying the proposals considerably weaken bank regulation and supervision.

Trump-era officials have made changes to loosen the rules for Wall Street lenders, including relaxing how much capital big banks must hold as a buffer against potential losses.

narrowing the scope of supervision and laying out a path for traditional lenders to better compete with private credit giants.

Ed Kalecki, Bloomberg Radio.

Calls continue for Republican Congressman Tony Gonzalez to resign about an alleged extramarital affair, plus several services begin today for Jesse Jackson.

I'm Michael Barr.

More ahead.

Business leaders call for restoring funding for the New York Rail Tunnel project.

Plus, officials from the self-driving vehicle industry appeared before Congress.

I'm Michael Barr.

More ahead.

News when you want it with Bloomberg News Now.

I'm Michael Barr.

Breaking news from the White House this morning that's impacting financial markets.

President Donald Trump has announced he is nominating Kevin Walsh to replace Jay Powell as the next chair of the Federal Reserve.

The president made the announcement on Truth Social.

We get more on selection of Walsh from Bloomberg Economics and policy correspondent Michael McKee.

Bloomberg's Michael McKee reporting.

Repeating the details on this breaking story, President Donald Trump has announced he is nominating Kevin Walsh to replace Jay Powell as the next chair of the Federal Reserve.