President Joe Biden says he plans to nominate Michael Barr to be the Federal Reserve’s vice chairman of supervision. Biden’s first choice, Sarah Bloom Raskin, withdrew her nomination in the face of opposition from Republicans and Sen. Joe Manchin.
WASHINGTON — President Joe Biden said Friday he plans to nominate Michael Barr, the dean of the University of Michigan’s public policy school, to be the Federal Reserve’s vice chairman of supervision.
“Michael brings the expertise and experience necessary for this important position at a critical time for our economy and families across the country,” Biden said. Barr, a Rhodes Scholar who clerked for Justice David Souter on the Supreme Court, also served during the Clinton administration at the White House, the Treasury Department and the State Department.
“Michael Barr understands the importance of this role at this critical time in our economic recovery,” Brown said."I strongly urge my Republican colleagues to abandon their old playbook of personal attacks and demagoguery and put Americans and their pocketbooks first.
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