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Tags: federal reserve board of governors nominee michael barr | biden administration nominee

Biden's Pick for Fed's Top Bank Cop Advances in Senate

Biden's Pick for Fed's Top Bank Cop Advances in Senate
Seal of the Board of Governors of the United States Federal Reserve System, as seen at the Federal Reserve Bank in Washington, D.C. (AP)

Tuesday, 12 July 2022 05:12 PM EDT

Michael Barr, U.S. President Joe Biden's pick to fill the last remaining vacancy on the seven-member Federal Reserve Board, advanced toward confirmation on Tuesday after clearing a procedural hurdle in the U.S. Senate.

Senators voted 66-27 to limit debate on Barr's nomination to the U.S. central bank, a result that allows the Senate leadership to hold a vote on his actual confirmation as Fed governor. It was not immediately clear when that vote would take place.

Barr, a former senior Treasury Department official, is also Biden's pick to be the Fed's Vice Chair for Supervision, a nomination that requires a separate set of cloture and confirmation votes in the Senate, the timing of which is also unknown.

© 2023 Thomson/Reuters. All rights reserved.


StreetTalk
Michael Barr, U.S. President Joe Biden's pick to fill the last remaining vacancy on the seven-member Federal Reserve Board, advanced toward confirmation on Tuesday after clearing a procedural hurdle in the U.S. Senate.
federal reserve board of governors nominee michael barr, biden administration nominee
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2022-12-12
Tuesday, 12 July 2022 05:12 PM
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