The Federal Reserve's new top regulatory official on Friday laid out an ambitious agenda for revisiting and easing numerous bank rules and oversight policies which she argued have become onerous and unnecessary.

US Federal Reserve (Fed) governor Michelle Bowman has been confirmed by the US Senate to serve as the central bank's vice-chair for supervision, further signalling a shift to lighter regulation under President Donald Trump.

Michelle Bowman, President Donald Trump’s nominee to be the top bank regulator at the Federal Reserve, has been confirmed by a full Senate vote. The Senate voted 48-46 on Wednesday evening to approve Bowman’s nomination to be the Fed’s vice chairwoman for supervision.