According to Foresight News, the Federal Reserve will welcome new regulatory vice-chair Michelle Bowman. She will guide the Federal Reserve on how to regulate the financial system, including the oversight of stablecoin issuers. The Senate confirmed the nomination of Kansas Republican Michelle Bowman with a vote of 48 in favor and 46 against. She will be promoted to one of the Federal Reserve's leadership positions, established after the 2008 global financial crisis to help the Federal Reserve focus on its regulatory functions, distinguishing it from U.S. monetary policy-making.