Bowman Defends Fed's Supervision Overhaul

Also, Trump takes populist turn on housing investments; Financial Services chairman carefully weighs in on stablecoin interest payments

Over the last few months, Michelle Bowman has made sweeping revisions to the Fed’s bank supervision program, announcing staff cuts and an organizational realignment as well as new “operating principles” to guide examiners toward “material financial risks.” The overhaul has generated a lot of debate – and a fair amount of criticism. But it’s mostly been …