According to Foresight News, the Federal Reserve will welcome a new Vice President for Supervision, Michelle Bowman. She will guide the Federal Reserve on how to regulate the financial system, including the regulation of stablecoin issuers. The Senate approved the nomination of Kansas Republican Michelle Bowman by 48 votes in favor and 46 votes against. She will be promoted to one of the leadership positions of the Federal Reserve, which was established after the global financial crisis in 2008 to help the Federal Reserve focus on its regulatory functions, which is different from the work of US monetary policy formulation.