A picture of the Farmers & Drovers Bank has pride of place on the shelf next to Michelle Bowman’s desk at the US Federal Reserve in Washington — a prominent reminder of her family ties to one of the oldest lenders in Kansas.
Bowman’s great-great-grandfather was the first president of the 143-year-old bank her family still owns in the rural Midwest and she spent seven years as its vice-president before joining the Fed’s board in 2018.
Her roots in banking made her an obvious choice for US President Donald Trump to pick as the Fed’s vice-chair of supervision in June, and she is also one of the contenders to succeed Fed chair Jerome Powell.
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