Trump picks Fed Governor Michelle Bowman to replace Michael Barr as Fed's supervision head
1. Trump appoints Michelle Bowman as Fed's Vice Chair of Supervision. 2. Bowman expected to favor lighter regulations, impacting bank stock performance. 3. Financial stocks have outperformed the S&P 500 since late 2023. 4. Bowman is part of the committee setting benchmark interest rates. 5. Current rate decision likely to hold steady at upcoming meeting.