Biden Administration Zeroes In on New Fed Nominee Following Earlier Stumbles
Michael Barr’s advocacy for more regulation of the financial services industry could meet with Republican opposition in the Senate.
The Biden administration, attempting to regain its footing following the rejection of its first choice for the job of vice chairman of the Federal Reserve Board, is reportedly poised to nominate a former Treasury Department official as the Fed’s top banking regulator.
Michael Barr, who worked at Treasury during both the Clinton and Obama administrations, is said to be the White House’s top choice. Mr. Barr is dean of the University of Michigan’s Gerald R. Ford School of Public Policy.
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