President Joe Biden announced his intent to nominate Michael Barr to serve as the Federal Reserve’s vice chairman of supervision.
The April 15 announcement comes about a month after Biden’s first choice for the job, Sarah Bloom Raskin, withdrew her nomination. Raskin had faced opposition from Republicans and Sen. Joe Manchin (D-W.Va.), who criticized her past statements advocating for the use of financial regulations to defund the fossil fuel industry as a means of addressing climate change.
