The vice chairman of the US Federal Reserve (FED), in charge of banking supervision, Michael Barr announced today his resignation, thus avoiding a confrontation with the future occupant of the White House, Donald Trump.

“The risk of conflict around this office risks distracting us from our mission (of overseeing and regulating the financial system),” the Fed official said in a statement from the central bank.

“Under the current circumstances, I judged that I would be more useful in the service of the American people than in my position as a (simple) member” (of the FED’s board of directors), adds Barr, a few days before the inauguration of Donald Trump on January 20.

The selection of Barr’s future successor to the post could trigger a rollback in the regulation of the financial system.

Michael Barr, whose post was created after the 2008 financial crisis, was appointed by outgoing Democratic President Joe Biden. His resignation, which will take effect no later than February 28, will allow Donald Trump to choose his successor from among board members who share his views.

Michelle Bowman is one of them. He was appointed to the Fed by Donald Trump and has consistently opposed Michael Barr’s efforts to strengthen banking supervision.

“I stand ready to work with President Trump to make sure we have responsible financial regulators,” Barr added.