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Biden nominates Michael Barr as Fed’s top banking regulator

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WASHINGTON – President Biden will appoint Michael Barr, a former Treasury Department official, to be the Federal Reserve’s chief banking supervisor, the White House said after Mr Biden’s first pick for the job was withdrawn amid opposition from Republicans and a key Democratic senator.

If confirmed, Mr. Barr would serve as the Fed’s vice chairman for oversight and be tasked with overseeing the largest US financial firms, including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc.

https://www.wsj.com/articles/biden-to-nominate-michael-barr-as-top-fed-banking-regulator-11650013201?mod=pls_whats_news_us_business_f Biden nominates Michael Barr as Fed’s top banking regulator

Ari Notis

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