The Federal Reserve will reduce its bank supervision staff by 30% by the end of next year, according to Wall Street Journal. The newspaper cited an internal memo outlining the cuts, which are being overseen by Fed Vice Chair for Supervision Michelle Bowman. The reductions would leave the Fed’s supervision and regulation division with about 350 staff, down from an authorized 500 staff. The memo stated that the goal was to achieve the cuts as much as possible through natural attrition, retirements and voluntary separation incentives.

Author: sdbrownlow

Student of Design