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.
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