Michelle Bowman was nominated April 16 by President Trump to join the Federal Reserve Board. Bowman currently serves as the Bank Commissioner for Kansas.
Bowman is a former executive at Farmers and Drovers Bank, Council Grove, Kan., her hometown. Previously, she was a staff member for Kansas Sen. Bob Dole, served as counsel for several U.S. House committees, and was director of congressional and intergovernmental affairs at the Federal Emergency Management Agency. Bowman also was deputy assistant secretary and policy advisor to Tom Ridge, Secretary of the Department of Homeland Security.
Bowman is a graduate of the University of Kansas, Lawrence, and received her law degree from Washburn University School of Law, Topeka, Kan. Bowman was the first female to serve as the chief bank regulator for Kansas; she was confirmed unanimously by the Kansas Senate in January 2017.
Bowman has been nominated to represent St. Louis, or Fed Region 8 for the remainder of a fourteen year term that expires Jan. 31, 2020. She would fill a spot on the seven-member Fed board reserved for a community banker or regulator of community banks.
“Michelle has been an active regulator on behalf of the citizens of Kansas, and I know she will be a valued addition to the Fed,” said John Ryan, president and CEO of the Conference of State Bank Supervisors. “Her appointment highlights the important role of state banks in our national financial system.”
Additionally, President Trump nominated Richard Clarida to become Fed vice chairman. Clarida is an economist and monetary policy specialist. If confirmed by the Senate, he would serve as the No. 2 to Fed Chairman Jerome Powell, who began a four-year term in February.