President Biden says he plans to nominate Michael Barr to be the Federal Reserve’s vice chairman of supervision.
But with Barr, Biden noted the importance of politics in a Friday statement that said his nominee had previously cleared the Senate on a bipartisan basis.
Barr is the dean of Michigan's Gerald R. Ford School of Public Policy. He was an assistant Treasury secretary for financial institutions during the Obama administration who helped designBarr, 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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