We have been banging the drum for President Trump to fire Fed Vice Chair Michael Barr, architect of the Fed’s economically destructive Basel III capital requirements proposal. Barr not only deserved to be booted from his role as the Fed’s top regulator, but Trump could also have sent a shot across the bow of Jerome Powell as potentially the next target.

Good news. Barr has just announced he’s giving up the post as vice chairman for supervision “effective February 28, 2025, or such earlier time as a successor is confirmed.”

And here’s the best part: the press release announcing the resignation also says: “The Board does not intend to take up any major rulemakings until a vice chair for supervision successor is confirmed.” That’s a good reason to keep the chair empty.