{"id":1553354,"date":"2022-07-14T00:04:27","date_gmt":"2022-07-14T04:04:27","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1553354"},"modified":"2022-07-14T00:04:28","modified_gmt":"2022-07-14T04:04:28","slug":"michael-barr-confirmed-by-senate-as-feds-vice-chair-of-supervision","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/michael-barr-confirmed-by-senate-as-feds-vice-chair-of-supervision\/","title":{"rendered":"Michael Barr Confirmed by Senate as Fed\u2019s Vice Chair of Supervision"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmichael-barr-confirmed-by-senate-as-feds-vice-chair-of-supervision%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1553354&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The U.S. Senate has voted to confirm Michael Barr as the vice chairman of supervision at the\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-federal-reserve\">Federal Reserve<\/a>, one of the most important financial regulatory roles in the country,\u00a0amid rising interest rates and\u00a0the worst inflation in four decades.<\/p>\n<p>The Senate on Wednesday morning voted\u00a066\u201328 to approve Barr, a former Obama administration official, as a member of the\u00a0Federal Reserve\u2019s Board of Governors.<\/p>\n<p>Later in the day, the chamber separately voted 66\u201328 to confirm his four-year term as\u00a0the Federal Reserve\u2019s\u00a0vice chairman of supervision\u2014the point person related to bank regulation.\u00a0More than a dozen Republicans joined Democrats in supporting Barr\u2019s confirmation.<\/p>\n<p>\u201cToday\u2019s confirmation of Michael Barr as Vice Chair for Supervision of the Federal Reserve is important progress for my plan to tackle inflation and for sound oversight as we transition to steady and stable growth,\u201d President Joe Biden said in a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/07\/13\/statement-from-president-biden-after-senate-confirmation-of-michael-barr-to-the-federal-reserve\/\">statement<\/a> on Wednesday.<\/p>\n<p>The vote comes as inflation in the United States <a href=\"https:\/\/www.theepochtimes.com\/june-inflation-hits-9-1-percent-new-40-year-high_4594424.html\">accelerated\u00a0to 9.1 percent<\/a> for the 12 months ending in June\u2014the highest level in four decades\u2014topping\u00a0the market estimate of 8.8 percent and last month\u2019s annual rate of 8.6 percent.<\/p>\n<p> Responsibilities <\/p>\n<p>Barr, who is\u00a0<a href=\"https:\/\/fordschool.umich.edu\/faculty\/michael-barr\">currently listed<\/a> as the\u00a0dean of the University of Michigan\u2019s Gerald R. Ford School of Public Policy, previously served in the\u00a0Treasury Department\u00a0during the Obama administrations.<\/p>\n<p>Under\u00a0President Barack Obama, he served as assistant secretary for financial institutions and\u00a0was\u00a0a\u00a0chief negotiator during the drafting of the Dodd-Frank Act, a\u00a0multi-pronged 2,300-page legislation Congress passed in 2010 that created the vice chair for supervision position.<\/p>\n<p>The financial reform\u00a0legislation sought to\u00a0prevent another financial crisis like in 2008, in part by establishing a range of financial safeguards that prevents the kind of risk-taking that led to the crisis, and\u00a0encouraging more bank regulation and supervision.<\/p>\n<p>\u201cThe Vice Chairman for Supervision shall develop policy recommendations for the Board regarding supervision and regulation of depository institution holding companies and other financial<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Senate has voted to confirm Michael Barr as the vice chairman of supervision at the\u00a0Federal Reserve, one of the most important financial regulatory roles in the country,\u00a0amid rising interest rates and\u00a0the worst inflation in four decades. The Senate on Wednesday morning voted\u00a066\u201328 to approve Barr, a former Obama administration official, as a member [\u2026]<\/p>\n","protected":false},"author":183,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1553354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1553354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/183"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1553354"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1553354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1553354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1553354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1553354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}