Michael Barr Confirmed by Senate as Fed’s Vice Chair of Supervision

Michael Barr testifies at the Senate Banking, Housing, and Urban Affairs at the U.S. Capitol in Washington, on May 19, 2022. Tasos Katopodis/Getty Images

The U.S. Senate has voted to confirm Michael Barr as the vice chairman of supervision at the Federal Reserve, one of the most important financial regulatory roles in the country, amid rising interest rates and the worst inflation in four decades.

The Senate on July 13 voted 66–28 to approve Barr, a former Obama administration official, as a member of the Federal Reserve’s Board of Governors.